Rare Element Resources secures $4.4M Wyoming Energy Authority grant for rare earth demonstration plant

RARE ELEMENT RESOURCES LTD

$4.4M WEA grant finalized as cost-reimbursement award for rare earth processing demonstration plant in Upton, WY.
DOE previously awarded $21.9M; combined grants cover >50% of estimated project costs.
Wyoming Governor signed bill to seek NRC primacy for licensing rare earth processing facilities.
Demonstration plant construction expected H2 2023, operations mid-2024; 40-month timeline began Oct 2021.
Plant will produce high-purity Nd/Pr oxide for permanent magnets; data for commercial plant design.

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