Strategic materials company Rare Element Resources said its planned rare earth processing and separation demonstration project in Upton, Wyo., has hit a new milestone – 60% plant design completion.
The project, led by General Atomics, is now advancing toward final detailed engineering due for completion later this year. The team recently completed a key design milestone with the Department of Energy, which is funding approximately one-half of the $44 million project budget.
“We are very pleased that our rare earth demonstration plant project is progressing toward planned construction next summer,” said Randall Scott, Rare Element president and CEO. “Permitting and licensing are now underway with several permits already received and others under agency review.”
The demonstration plant is expected to produce a commercial-grade neodymium/praseodymium rare earth high-purity oxide that is used in producing high-strength permanent magnets. It will utilize Rare Element’s proprietary processing and separation technology, which is a closed-cycle process with fewer steps, resulting in environmental benefits and lower costs compared to current technologies.
The plant will process already stockpiled sample material from the company’s Bear Lodge Project located in northeastern Wyoming.
Source: Rare Element Resources