Massive Amounts Of Rare Earth Minerals Found In US Could Make America A World Leader

Recently, the United States made an extraordinary discovery: over 2 billion tons of some incredibly rare minerals. 

This puts the U.S. in a position where it could soon become a leading player globally in the resources sector. 

Such a status in resource leadership is usually seen as advantageous on the international scene. 

Especially now, with a significant discovery of rare earth minerals in Wyoming, the U.S. is set to elevate its standing even further.

The unveiling of these two billion metric tons of rare earth minerals might soon position the U.S. ahead of China in this field. 

The impact of this find on American industry is expected to be substantial. 

The discovery of two billion metric tons of rare earth minerals could mean the US will overtake China. American Rare Earths

American Rare Earth Inc has shared that this discovery has "exceeded their wildest dreams". 

Remarkably, they have drilled only about a quarter of the project area so far.

Included in this find are vital minerals like oxides of neodymium, praseodymium, samarium, dysprosium, and terbium. 

These minerals are essential for smartphones, hybrid cars, and aircraft. They are also used in everyday items such as light bulbs and lamps.

As it stands, a staggering 95 percent of earth minerals come from China, with the U.S. importing 74 percent of its needs. 

However, following a ban on extraction in December 2023, American Rare Earths has been actively trying to surpass China's dominance. 

The company began its drilling operations in Wyoming in March 2023, initially estimating the presence of 1.2 million metric tons of these minerals.

Subsequent drilling efforts have uncovered much more than initially expected.

In fact, American Rare Earths has significantly increased its yield by over two-thirds. 

Don Schwartz, the CEO of American Rare Earths, explained:

Currently, a whopping 95 percent of earth minerals originate from China, with the States alone importing 74 percent. American Rare Earths

"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"

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

It’s not just American Rare Earths in the race for resources.

Ramaco Resources also reported finding a deposit of rare minerals near Sheridan in Wyoming, estimated to be worth $37 billion. 

Randall Atkins, CEO of Ramaco Resources, spoke to 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.

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"So, we're drilling down into the deeper levels to see what's down there." 

However, American Rare Earths has challenged these figures. 

Schwartz commented, "Our resources is on an order of magnitude larger than the Ramaco Resources number. 

"If you did the same thing for it, you’d come up with a lot bigger number, but that doesn’t take into account whether you can [mine and process] more economically, or even do it."