Halleck Creek rare earths project, US – update
Name of the Project
Halleck Creek rare earths project.
Location
Central Laramie Mountains, Wyoming, US.
Project Owner/s
American Rare Earths through Wyoming Rare (USA), the entity holding the 2.34-billion-tonne Halleck Creek project.
Project Description
A scoping study has shown Halleck Creek to be a world-class rare earth element project.
The project comprises the Cowboy State mine in American Rare Earths’ southern land holdings and the Overton mountain resource area in the north.
The scoping study proposes a 20-year operation with a processing rate of about three-million tonnes a year for total production of 64.26-million tonnes.
In Phase 1 production is estimated at 1.53-billion tonnes a year of neodymium/praseodymium, 17-million tonnes a year of terbium oxide, 91-million tonnes a year of dysprosium oxide, 383-million tonnes a year of samarium, europium and gadolinium concentrate, and 1.49-billion tonnes of lanthanum carbonate.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Under the three-million-tonne-a-year base case scenario, the scoping study outlines a pretax net present value, at an 8% discount rate, of $637.9-million and an internal rate of return of 22.5%, with a payback of 2.9 years.
Capital Expenditure
Total initial capital expenditure is estimated at $456.1-million.
Planned Start/End Date
Construction is expected to take 2.5 years to complete.
Latest Developments
The project has attracted the interest of a special purpose acquisition company. However, the company has decided not to pursue any proposal at this stage.
Under the proposal, Wyoming would be listed with the company in a separate entity on the Nasdaq.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
American Rare Earths, tel +61 2 8054 9779 or email info@americanree.com.
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