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American Rare Earths targets US metals bottleneck. American Rare Earths (ASX:ARR) has signed a non-binding memorandum of understanding with US metallisation specialist Novex to advance oxide-to-metal production for its Halleck Creek Rare Earths Project in Wyoming, US. The agreement, signed through American Rare Earths' wholly owned subsidiary Wyoming Rare, covers process optimisation, conversion of demonstration plant output, and the design of a domestic rare earth metal production facility. Novex will receive neodymium-praseodymium oxide from the demonstration plant and convert it into metal suitable for use as a permanent magnet precursor. Specifications, quantities, purity, and delivery schedules are yet to be agreed. The companies will also assess process design, technology selection, throughput, product mix, permitting, and capital and operating costs for a facility to be built by American Rare Earths. The agreement follows a company review of oxide-to-metal technologies, which identified high-temperature molten salt electrolysis as the preferred option, subject to validation. American Rare Earths says the process reduces reliance on anhydrous hydrogen fluoride and avoids consuming a saleable rare earth metal as a reductant. CEO Mark Wall says the agreement supports the company's goal of developing a fully domestic US mine-to-magnet supply chain. "Our technology review demonstrated that molten salt electrolysis is the cleanest path from oxide to metal, and Novex has been developing that capability in the United States for years," Wall says. Novex operates a technology development centre in Bellingham, Washington, and has developed metallisation processes through programs funded by the US Department of Energy and Department of War. American Rare Earths notes that the agreement follows China's introduction of export licensing for samarium, gadolinium, terbium, dysprosium, and yttrium in April 2025. From 1 January 2027, US defence contractors will be prohibited from supplying magnets containing rare earth elements mined, refined, or separated in China. The parties aim to negotiate a definitive long-term collaboration and supply agreement within 12 months, although there is no assurance an agreement will be reached. The company is advancing Halleck Creek, which hosts a mineral resource of approximately 2.63 billion tonnes and sits entirely on Wyoming state land. The company describes it as the largest known US deposit by total contained rare earth oxides. Images: American Rare Earths France is an editor and writer with more than 15 years of experience in lifestyle media publishing, brand communications, and strategy. She has held senior editorial roles across print and digital publications and co-founded a boutique digital marketing agency. She is also a novelist and a collector of typewriters.

American Rare Earths signs agreement with Small Caps-based Novex to develop domestic supply chain. American Rare Earths signs MoU with Novex to metallise Halleck Creek oxides into magnet metals, advancing US domestic rare-earth supply chain. In brief At-a-glance 3 takeaways * 01ARR, Novex sign MoU to metallise oxides for magnets. * 02Aims: US mine-to-magnet, domestic supply in Wyoming. * 03Molten salt electrolysis chosen; backup lanthanothermic. American Rare Earths (ASX: ARR) has signed an agreement with US rare earth metallurgy and metallisation company Novex to convert separated rare earth oxides from its Halleck Creek project in Wyoming into the metals required to make permanent magnets. The memorandum of understanding (MoU) sets a framework for a long-term commercial relationship spanning process optimisation, metallisation of demonstration plant output, and the joint design and development of a domestic rare earth metal production facility. The parties will use reasonable commercial efforts to establish the structure and commercial terms of a definitive long-term collaboration and supply agreement within 12 months, supported by regular progress reviews and technical working group sessions. Technology review conducted. The MoU follows a technology review by American Rare Earths into the ways it could participate in the midstream segment of the mine-to-magnet rare earth supply chain, specifically the step from separated oxide to metal and then to precursors for magnet production. The company screened a range of metallisation technologies and found more than one workable route, including fluoride conversion followed by calciothermic reduction, lanthanothermic reduction for volatile metals such as samarium, and high-temperature molten salt electrolysis. The latter was found to be the cleanest option as it reduces dependence on anhydrous hydrogen fluoride and unlike lanthanothermic reduction, does not consume a saleable rare earth metal as the reductant. The review recommended American Rare Earths advances with molten salt electrolysis as the primary development candidate, with lanthanothermic reduction as a back-up for volatile target metals. Vertically integrated supply chain. American Rare Earths chief executive officer Mark Wall said the MoU was a critical step in building a US vertically integrated mine-to-magnet supply chain. "Our technology review demonstrated that molten salt electrolysis is the cleanest path from oxide to metal and Novex has been developing that capability in the US for years while working with various areas of the government and leading consulting companies," he said. "Putting our massive Halleck Creek resource alongside Novex's technical capability is an important step in developing the cornerstone of US domestic rare earth and magnet production in Wyoming." Novex chief executive officer Ilija Mišković said his company "look[s] forward to metallising American Rare Earths' oxide products and working together to advance a US rare-earth metal and alloy production facility." Largest US Rare Earths deposit. Halleck Creek is the largest known deposit of total contained rare earth oxides in the US, and its mineral resource estimate of 2.63 billion tonnes carries the potential to supply domestic magnet metals for several hundred years. Located entirely on Wyoming state land, the project has drawn strong federal and state support including a non-binding US Export-Import Bank letter of interest for funding of up to US$456 million. The MoU with Novex builds on the oxide-to-metal work that American Rare Earths commenced earlier this year and its demonstrated capability to produce separated oxides from Halleck Creek ore. Mr Wall said the Wyoming value chain would now extend from ore, through refining and separation, to the metals that feed magnet manufacture. Subscribe · daily wire Get the wire before the market opens. The ASX small-cap stories that matter, filed before 9am AEST. Curated by the Small Caps desk. Join 100,000+ investors. Unsubscribe anytime.

American Rare Earths advances its U.S. Mine-to-Magnet strategy. InvestorNews July 17, 2026 No Comments Six months into his tenure as CEO, Mark Wall is moving American Rare Earths Limited (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) toward a more distinctly American future. The Company's assets are in the United States, Wall has relocated there and the process of pursuing a Nasdaq listing has begun. In an interview with InvestorNews host Tracy Hughes, Wall described the transition as a natural extension of the Company's flagship Halleck Creek project in Wyoming. American Rare Earths reports a total mineral resource of 2.63 billion tonnes grading 3,292 parts per million total rare earth oxides, containing an estimated 8.65 million tonnes of TREO. Approximately 11% of the TREO distribution consists of heavy rare earths. "It contains heavy and light rare earths," Wall said. "We know the heavies are very strategic. We know the lights we really need for things like robotics." He also pointed to Wyoming's established resource industry, state support and access to road, rail and power infrastructure as important development considerations. In June, American Rare Earths announced the proposed appointment of Matthew Gili as a Non-Executive Director. Gili is President and CEO of Ur-Energy Inc. and brings senior experience from Rio Tinto, Barrick and the Oyu Tolgoi copper operation in Mongolia. Wall is also reviewing the Company's wider U.S. portfolio. A June exploration update outlined 2026 and 2027 programs at Beaver Creek in Wyoming, Searchlight in Nevada and La Paz in Arizona. Halleck Creek remains the priority, but each property is being assessed for further work. At Halleck Creek, a drilling program of approximately 3,050 metres across 19 holes is underway to support feasibility work, resource conversion and additional metallurgical, geotechnical and environmental studies. Wall said approximately 10 holes had been completed at the time of the interview. The drilling is proceeding while the pre-feasibility study is being optimized and work required for the subsequent feasibility study is already underway. "We've got no time to waste," Wall said. "We're moving in parallel on a whole range of things." The Company continues to target the end of the third quarter of 2026 for completion of the pre-feasibility study, although Wall emphasized that the team is still working through the balance between further optimization and finalizing the study. Another major workstream is an accelerated pilot-plant program intended to produce pre-production rare earth material and demonstrate the proposed processing route. Wall said the Company is targeting approximately 10 months by dividing the work among partners in Wyoming and the Saskatchewan Research Council in Canada. That downstream strategy now includes a study examining the conversion of separated heavy rare earth oxides into metals, the immediate precursors to permanent magnets. Wall said American Rare Earths is approaching vertical integration methodically as it evaluates how Halleck Creek could contribute to a domestic mine-to-magnet supply chain. Financing remains essential. The U.S. Export-Import Bank's non-binding letter of interest for potential debt financing of up to US$456 million remains in place, according to Wall. The eventual financing structure is still a work in progress and will likely require commercial, state and federal partners. American Rare Earths has also appointed BDO as its auditor and commenced the process associated with a proposed Nasdaq listing. Wall views the move as an important step toward expanding the Company's access to U.S. shareholders and institutions, but the listing remains a future objective subject to the applicable requirements and approvals. The simultaneous workstreams include the pre-feasibility study, feasibility drilling, permitting, the pilot plant, downstream metallization studies, project financing and the proposed Nasdaq listing. Each carries technical, financial and regulatory requirements. Wall's strategy is to advance them in parallel, with Halleck Creek remaining at the centre of the Company's U.S. rare earths business. To access the complete interview, click here Daily InvestorNews updates. Disclaimer: Video interviews and other video content published by InvestorNews.com are produced as part of paid media services. The issuer or company featured in this video interview has compensated InvestorNews for the creation and publication of such content. The views expressed in these interviews are those of the interviewees or guests and do not necessarily reflect the opinions or positions of InvestorNews, its writers, or its affiliates. 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