China holds over 31% of global manufacturing, more than double the US’ share of just 15%.
The modern-day gold rush happened in Wyoming where different minerals including oxides of neodymium, praseodymium, samarium, dysprosium and terbium were uncovered. The team have so far only drilled 25% of land in their project so there could be much more to discover. The kinds of minerals found are widely used in technology such as smartphones, hybrid cars and aircrafts, as well as more common things like light bulbs and lamps.
Don Schwartz is CEO of the mining company and 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.” But American Rare Earths aren’t the only ones in the running after Ramaco Resources revealed it had found a deposit of rare minerals near Sheridan in Wyoming, that could have a value of $37 billion.
R&I – Obey
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Article URL : https://www.uniladtech.com/science/news/two-billion-tons-rare-earth-minerals-us-751157-20240627