Mentioned:
AREC -10.71% UUUU -14.13%
The United States of America is rapidly searching for more sources of rare earth processing. And now, American Resources is scaling up their production capacity.
What’s happening:
- American Resources (NASDAQ: AREC) has announced their subsidiary ReElement Technologies has officially completed their Phase 2 expansion at their rare earth processing facility located in Noblesville, Indiana
Why it matters:
- The new expansion has doubled American Resources’ daily production capacity of high purity light and heavy rare earth oxides, including neodymium, terbium, dysprosium and praseodymium
Going deeper:
- American Resources has also publicly stated they are in the process of completing their Phase 3 expansion at their Noblesville, Indiana facility which will triple their daily production capacity for rare earth processing
- The political focus around rare earth elements has been significantly ramping up of late, with a new executive order just recently coming out of the White House to begin an official investigation into the risks of America depending on foreign countries for rare earth supply
The intrigue:
- Energy Fuels (NYSE: UUUU) also just recently publicly stated they now have the technical capabilities to process six of the seven rare earth elements that were recently restricted for exportation by China at their White Mesa Mill located in Utah
