HOUSTON, April 1 (Argus) - US rare earth producer REalloys today agreed to acquire 10% of the rare earth output of US Critical Materials (USCM).
USCM owns the Sheep Creek rare earth project in Ravalli County, Montana. According to USCM, the rare earth deposit has a grade of nearly 9%, with 2.4% of neodymium and praseodymium content.
REalloys stated that this agreement provides REalloys with a framework to ensure the acquisition of up to 10% of orders from Sheep Creek, providing domestic purchasing of heavy rare earth materials for REalloys' midstream and downstream businesses, for use in the US strategic defense inventory.
The specific purchase quantity has not been disclosed.
The Sheep Creek project is a Fast-41 transparent project. Company senior officials said that the review time for infrastructure projects will be shortened, and environmental reviews and permits are expected to be completed in May 2027.
REalloys has also established a partnership with the Saskatchewan Research Council (SRC) in Canada and acquired 80% of SRC's rare earth oxide and metal production. The company is building a rare earth metallization facility in Ohio, converting rare earth oxides into 3,000 tons per year of high-purity metal to support the production of 10,000 tons per year of neodymium iron boron magnets.
