US ‘To Surpass China’ In Rare Earth Minerals After Massive Discoveries
By Stefan J. Bos, Chief International Correspondent Worthy News
WASHINGTON/BEIJING (Worthy News) – The United States could soon surpass China as the world leader in rare earth minerals after more than 2.34 billion metric tons were discovered in the U.S. state of Wyoming, officials said Thursday.
American Rare Earths Inc. announced that the reserves near Wheatland dramatically surpass the Communist-run Asian nation’s 44 million metric tons.
The firm added that the discovery “exceeded our wildest dreams” after drilling only about 25 percent of the property.
The company has a stake in 367 mining claims across 6,320 acres of land in the Halleck Creek Project, along with four Wyoming mineral leases on 1,844 acres on the same project now called Cowboy State Mine, Worthy News learned.
It came as good news for Randall Atkins, 71, who bought the Brook Mine 12 years ago, but only recently, researchers found the ground contained rare earth elements
His rare earth elements can be sold for over $1 million per metric ton. Atkins bought the old Wyoming coal mine sight unseen for $2 million.
He has now learned it may contain $37 billion worth of ‘rare earth’ minerals.
The types of minerals at the site are used in smartphones, hybrid car motors, and military technologies – among others.
As much as 95 percent of processed rare earth minerals come from China – and the U.S. imports 74 percent of its supply from the nation.
But the latest finds in Wyoming could change America’s fortunes and help it compete with China at a time of growing geopolitical tensions, the data suggest.
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