Texas rare earths mine developers to build U.S. refinery – by Ernest Scheyder (Reuters U.S. – December 16, 2019)


(Reuters) – Developers of a Texas rare earths mine said on Monday they will build a pilot plant to refine the strategic minerals, the latest domestic processing project announced at a time when more Americans are voicing concern about China’s control over the sector.

China is the largest global processor of rare earths, a group of 17 minerals used to make a range of electronics and military equipment.

Texas Mineral Resources Corp (TMRC.PK) and privately held USA Rare Earth said they will spend $10 million to $12 million to build the pilot plant in Colorado, near industry consultants and academics.

The partners hope to be producing small amounts of processed rare earths by the middle of 2020 – roughly 100 kilograms (220 pounds) annually. This would help them finalize supply deals with potential customers and secure financing for a full-scale plant near their Round Top mine in rural west Texas.

The partners plan to move the pilot plant to Texas by 2021 and have full-scale production by 2023. California’s Mountain Pass mine, which is controlled by a hedge fund, is building its own rare earth processing equipment and hopes to have it online by next year.

For the rest of this article: https://www.reuters.com/article/us-usa-rareearths-texas-mineral-resource/texas-rare-earths-mine-developers-to-build-u-s-refinery-idUSKBN1YK1Q9

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