In a recent interview with host Peter Clausi, Mark Wall, President and CEO of American Rare Earths Limited (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY), described the company’s Halleck Creek project in Wyoming as “materially the largest rare earth deposit in the domestic United States,” citing an estimated 8.6 million tonnes of total rare earth oxide.
Wall emphasized that while larger deposits exist globally, Halleck Creek’s advantage lies in its jurisdiction. Located in Wyoming, the project benefits from existing infrastructure—rail, power, and road access—which he described as critical to mine development economics.
The deposit, an allanite-hosted system long known to the industry, has historically faced metallurgical challenges. Wall noted that a combination of natural geological aging and advances in processing has enabled the company to develop a viable flowsheet.
Rather than constructing a traditional pilot plant, the company is advancing a distributed processing strategy. Ore will be crushed, ground, and concentrated in Wyoming, reducing approximately 100 tonnes of material to about 7 tonnes of concentrate, before being sent to the Saskatchewan Research Council for further processing. Wall said this approach reduces both cost and time while avoiding the inefficiencies of building and dismantling pilot infrastructure.
On financing, Wall confirmed ongoing engagement with multiple U.S. government bodies, including discussions tied to a non-binding letter of interest from EXIM and broader alignment with Department of Energy and Department of Defense priorities.
Strategically, the company is pursuing a U.S.-focused capital markets profile, with a NASDAQ listing underway as part of what Wall described as “fully Americanizing the company,” reflecting its Wyoming and Arizona asset base.
Looking ahead, near-term milestones include a pre-feasibility study targeted for Q3 2026, permitting submissions, and continued advancement of processing solutions. Longer-term priorities center on securing a mine-to-magnet partner and financing construction, with 2027 identified as the year to move toward building the mine and associated processing infrastructure.
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