American Rare Earths, a mining company based in Wyoming, has received a significant grant of A$10.7 million (US$7.1 million) from the State of Wyoming to advance its Cowboy State Mine at Halleck Creek. The grant, part of a Matching Funds arrangement, will cover various aspects of project development, including further exploration, environmental studies, pilot plant processing, prefeasibility studies, and community impact assessments.
This funding is a major milestone for American Rare Earths and demonstrates Wyoming’s commitment to supporting energy and mining projects in the state. The grant is seen as validation of the company’s project direction and is expected to boost investor confidence in the potential of the Cowboy State Mine.
Richard Hudson, Chairman of American Rare Earths, expressed the company’s excitement about the grant, highlighting the acceleration of exploration and development efforts thanks to the funding. The partnership between the company and the State of Wyoming, along with the Wyoming Energy Authority and the University of Wyoming Energy Resources Council, aims to drive sustainable resource development and support the state’s economic and environmental sustainability.
Donald Swartz, CEO of American Rare Earths, emphasized the importance of the grant in permitting and developing a commercial rare earth mine and processing facility in Wyoming. The non-dilutive funding will be instrumental in meeting project milestones and further progressing the Cowboy State Mine.
Overall, this grant represents a significant step forward for American Rare Earths and the development of the Cowboy State Mine, solidifying the company’s position in the energy and mining sectors and contributing to Wyoming’s leadership in sustainable resource development.
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