U.S. Rare Earths, Inc. (OTCBB: UREE), is a mineral exploration, mining and claims acquisition company based in Plano, Texas. Formerly Colorado Rare Earths, Inc., the company holds approximately 22,000 acres of mining claims for rare earth elements in Colorado, Idaho and Montana. In Colorado, these include the Powderhorn Property in Gunnison County and the Wet Mountain Property in Fremont and Custer Counties. In Lemhi County, Idaho, claims consist of Lemhi Pass, Diamond Creek, and North Fork Properties. In Montana, our properties are located in Beaverhead County and the Sheep Creek Property in Ravalli County.
Rare earth elements are critical to many existing and emerging 21st century applications including clean-energy technologies such as hybrid cars and electric vehicles; high-technology applications including cell phones and digital music players; hard disk drives used in computers; microphones; fiber optics; lasers; and in addition, critical defense applications such as global positioning systems, radar and sonar; and advanced water treatment applications, including those for industrial, military, homeland security, domestic and foreign aid use.
Current United States Geological Survey (USGS), the Department of Energy (DOE) and the Government Accountability Office (GAO) reports show that U.S. Rare Earths, Inc. owns the mineral rights to one of the major deposits of rare earth elements (REE) in the United States.
The Government Accountability Office issued a report documenting that China, supplier of 97% of the world's rare earths, dominates the supply of rare earth materials crucial to the U.S. defense, computer and renewable energy sectors. The report, commissioned by Congress, resulted from concerns that China could reduce the rare earth materials supply, curbing U.S. production of guided missiles and other defense weapons as well as commercial products such as computer hard drives, cell phones, MRI machines, hybrid autos and wind turbines, among other sophisticated technologies that employ rare earth materials.
A recent GAO report warned that the U.S. needs to ramp up its domestic production of both light and heavy rare earths immediately. Idaho Montana and Colorado were mentioned in the GAO report as states where there was an availability of rare earths. U.S. Rare Earths, Inc. owns the mineral rights to the light and heavy rare earths in these states; this was recently referenced on pages 30 & 31 of a recent Department of Energy Critical Materials report, the report can be accessed on their site; (Download .pdf file here)
Rare earths are essential raw materials used in nearly all sustainable energy technologies and a wide spectrum of defense applications. Our rare earth deposits could help supply the projected demand of the United States military and civilian green industries and would assist in eliminating the dependence the United States currently has on Chinese sources. A likely source of heavy rare earth elements in the U.S. comes from the deposit at Diamond Creek, Idaho, owned by U.S. Rare Earths, Inc. The USGS also lists some heavy rare earth elements at the company's Lemhi Pass deposits on the Idaho - Montana border.
U.S. Rare Earths, Inc.’s staked properties in Diamond Creek contain relatively high concentrations of total rare earths, with a significant amount of heavy rare earths. They also contain high neodymium content.
The USGS now recognizes U.S. Rare Earths Inc.’s REE deposits in Idaho, Montana and Colorado as some of a select group of economically viable deposits that is outside of Chinese control.
The Diamond Creek and Lemhi Pass properties have no previous environmental or regulatory citations and the state of Idaho is amenable to new mining endeavors. (Note) The Actlabs Group of companies provides U.S. Rare Earths analytical services actlabs.com.
Some of the important advantages of the US Rare Earths, Inc, resource include: