2,000,000,000 tons of rare Earth minerals that can be used in hybrid cars discovered in US

  • American Rare Earths has been drilling in Wyoming since March 2023
  • They have uncovered far more minerals than expected
  • The minerals can be used in cars, smartphones and light bulbs

Published on Jun 28, 2024 at 4:45 PM (UTC+4)
by Ben Thompson

Last updated on Jun 29, 2024 at 4:08 PM (UTC+4)
Edited by Tom Wood

The discovery of 2 billion tons of rare Earth minerals may be a massive boost for the American economy.

The United States imports 74 percent of its minerals.

By way of comparison, 95 percent of all Earth minerals currently come from China.

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This puts the US at a disadvantage when it comes to manufacturing – as they produce 15% of the world’s manufacturing compared to China’s 31%.

But this could be set to change due to a recent discovery by mining company American Rare Earths.

American Rare Earths’ mineral jackpot

They struck gold – figuratively speaking – on some land in Wyoming.

Despite only 25 percent of the land being drilled so far, they’ve already uncovered a lot of minerals.

This includes oxides of neodymium, praseodymium, samarium, dysprosium and terbium.

These minerals have wide uses in technology, from everything to smartphones to hybrid cars and aircraft.

Their use even extends to household items like light bulbs and lamps.

When the company first began drilling in March 2023, they estimated they would find 1.2 million metric tons.

However, they’ve gotten way more than they could have expected.

CEO Don Schwartz said: “These results are illustrative of the enormous potential of the project when the resource increased by 64 percent during a developmental drilling campaign, which increased measured/indicated resources by 128 percent.

“Typically, you’ll see the resource decrease as infill drilling takes place – instead, we’re seeing the opposite, with only 25% of the project being drilled to this point.”

Another mining company, Ramaco Resources, has reported a finding of $37 billion of minerals near Sheridan, Wyoming.

Ramaco’s CEO, Randall Atkins told the Cowboy State Daily: “We only tested it for 100, 200 feet, which is about the maximum you’d ever want to do a conventional coal mine.

“Much deeper than that, and the cost would be prohibitive to mine for $15-a-ton coal. But there are seams that go down almost to 1,000 feet. So, we’re drilling down into the deeper levels to see what’s down there.”

This could potentially revitalize the American industry.

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Ben Thompson

Ben got his start in journalism at Kennedy News and Media, writing stories for national newspapers, websites and magazines. Now working as a freelancer, he divides his time between teaching at News Associates and writing for news sites on all subjects.