Wyoming’s Massive 2.34 Billion Ton Find Rattles China’s Mineral Control

The U.S. could be about to break China’s dominance in the rare mineral industry after discovering a reported 2.34 billion tons of rare minerals in a site in Wyoming.

Groundbreaking Discoveries in Rare Earth Minerals

Image Credit: Shutterstock / Spitzi-Foto

American Rare Earths Inc. revealed a 64% increase from its original estimate of rare minerals found in Wheatland, Wyoming. 

China Dominates Market

Image Credit: Shutterstock / humphery

China provides 95% of the world’s supply of rare minerals, showing its clear dominance in the market.

U.S. Seeks Opportunity

Image Credit: Shutterstock / Studio Romantic

The U.S. gets 74% of its rare mineral supply from China, which has recently announced a ban on extracting minerals from the Earth, further monopolizing the market.

Wyoming’s Potential as America’s Answer

Image Credit: Shutterstock / Ingo70

Wyoming has now been hailed as a potential solution to break China’s dominance in the market after a contemporary gold rush in the area.

The Race for Dominance is on

Image Credit: Shutterstock / fukomuffin

“China is driven to maintain its market dominance… This is now a race,” claimed the CEO of American Rare Earths, Don Swartz.

American Rare Earths Inc.’s Strategic Land Acquisition

Image Credit: Shutterstock / Ralf Liebhold

erican Rare Earths Inc. wants to buy huge areas of land in Wheatland, Wyoming after the discovery surpassed all expectations.

Surpassing Competitors in Mineral Estimates

Image Credit: Shutterstock / fizkes

One company estimated there would be around 1.2 billion metric tons of precious minerals in Wyoming. However, this figure has been proved wrong.

Exceeding Expectations in Wheatland

Image Credit: Shutterstock / Tudoran Andrei

After significant research from American Rare Earth Inc., it was announced that a total of 2.34 billion metric tons could be extracted from Wheatland.

64% Increase Since First Estimate

Image Credit: Shutterstock / Parilov

Since the first drilling in March 2023 that created the initial estimate, companies have seen a 64% increase in the potential amount of minerals.

CEO’s Enthusiastic Reaction to Discoveries

Image Credit: Shutterstock / pan demin

CEO Donald Swartz expressed excitement, stating that the findings “exceeded our wildest dreams” while only 25% of the property had been drilled.

Consumer Demand Fuels Rare Earth Mineral Boom

Image Credit: Shutterstock / Markopolo

This discovery could have come at the best time in history after a huge rise in consumer demand for magnet metals that drive the production of wind turbines and electric vehicles.

An Unorthodox Discovery

Image Credit: Shutterstock / RachenStocker

Swartz said in an interview that usually, the minerals would start to decrease at this point in the drilling process, but that’s not the case for Wheatland, Wyoming.

A Long Way To Go

Image Credit: Shutterstock / Zivica Kerkez

“Typically, you’ll see the resource decrease as infill drilling takes place – instead, we’re seeing the opposite, with only 25% of the project being drilled to this point,” noted Swartz.

Benefits for the Job Market

Image Credit: Shutterstock / industryviews

Another benefit to the discovery is the potential for a huge workforce, adding a number of jobs to the local community to help dig out the enormous load.

30 Years of Sustainability

Image Credit: Shutterstock / industryviews

If American Rare Earth’s estimates are correct, these jobs could be sustained at least for the next 30 years while adding huge income to Wyoming and America.

Record January for Jobs

Image Credit: Shutterstock / Fit Ztudio

The U.S. has already seen a record month in January, where over 300,000 jobs were added to the market across the nation, meaning it could only get better.

Challenges in Market Readiness

Image Credit: Shutterstock / Scharfsinn

While worldwide demand stands at 60,000 tons annually, Swartz questions if the market can absorb substantial material from a large mine.

Too Much for the Market?

Image Credit: Shutterstock / I. Noyan Yilmaz

“If you build a really big mine, can the market take all of that material?” Swartz asked, “We’re trying to make something that’s modular and scalable, that can grow in the market over time,”

A Positive Future

Image Credit: Shutterstock / SasinTipchai

After China’s dominance in the mineral market and America’s ambition of distancing its reliance on the nation’s trade, this could be the jackpot that the U.S. needed for an economic boost.

21 States Where Squatters Can Legally Claim Your Property

Image Credit: Shutterstock / Luciano Mortula – LGM

Discover how squatters’ rights, or adverse possession, are more than just legal jargon—they’re stories of unexpected twists in the world of real estate. From sunny California to the historical landscapes of Pennsylvania, here’s how these laws could turn the tables on homeowners and squatters alike. 21 States Where Squatters Can Legally Claim Your Property

14 Things That Are Banned in the U.S. but Totally Fine Elsewhere

Image Credit: Pexels / Ekaterina Belinskaya

Ever feel like America’s rulebook was written by someone with a dartboard? Across the pond or down under, things get even wackier. Let’s take a walk on the wild side of global “Do’s” that are definite “Don’ts” in the Land of the Free. 14 Things That Are Banned in the U.S. but Totally Fine Elsewhere

25 American States Nobody Wants to Visit Anymore

Image Credit: Shutterstock / Sean Pavone

Across the United States, some states capture the hearts and itineraries of many, while others remain quietly on the sidelines, overshadowed or misunderstood. These 25 states, facing what you might call a popularity crisis, are brimming with hidden wonders, cultural riches, and natural beauty, awaiting those willing to look beyond the usual tourist trails. 25 American States Nobody Wants to Visit Anymore

20 Foods That Are Cheaper to Eat Out Than Making at Home

Image Credit: Shutterstock / LTime

In a world where convenience often wins, certain culinary delights come with a lower price tag when enjoyed at a restaurant rather than crafted in your own kitchen. Here are twenty foods that might save you both time and money when indulged in at your favorite eatery. 20 Foods That Are Cheaper to Eat out Than Making at Home

17 Things You’re Paying For, but You Don’t Have To

Image Credit: Shutterstock / Anja Ivanovic

In the land of the free, there’s a price tag on everything, but savvy Americans know better than to open their wallets for just anything. Here are 17 expenses you’ve been shelling out for without realizing there’s a cheaper or even free alternative. 17 Things You’re Paying For, but You Don’t Have To

The post Wyoming’s Massive 2.34 Billion Ton Find Rattles China’s Mineral Control first appeared on From Frugal to Free.

Featured Image Credit: Shutterstock / Mark Agnor.

The content of this article is for informational purposes only and does not constitute or replace professional financial advice.

(Visited 1 times, 1 visits today)