rare earth elements in Wyoming

Gosen, Foley, and Cordier, 2010). The Commonwealth
of Independent States (Azerbaijan, Armenia,
Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova,
Russia, Tajikistan, Turkmenistan, Uzbekistan,
and Ukraine) controls about 19 percent, followed
by Australia with 5.4 percent and India with 3.1
percent (Long, Van Gosen, Foley, and Cordier,
2010).
China’s state-owned mines kept rare earth prices
artificially low during most of the past 15 years,
which drove other suppliers out of business. The
United States had the expertise, but lacked the
manufacturing infrastructure to refine rare earth
oxides to metals. Rebuilding the U.S. REE supply
chain has begun, but could take as long as 15 years
to complete (Long, Van Gosen, Foley, and Cordier,
2010; Hsu, 2010). Achieving a secure strategic supply
of REE seems to be more important now than
the economic impact of developing the necessary
supply chain.
The only current REE producer in the United
States is the Molycorp mine, producing from a carbonatite,
at Mountain Pass, California. Molycorp’s
production has been from previously mined and
stockpiled material. However, completion of their
ongoing expansion and modernization project is
expected to produce about 19,050 tonnes (21,000
tons) of REO equivalent per year, beginning in
mid-2013 (Molycorp, 2013). The company plans
to increase production to 40,000 tonnes (44,090
tons) of REO per year when justified by demand,
product pricing, capital availability, and financial
returns.
REE minerals and deposits are often classified as
either LREE or HREE. However, since both types
usually occur together, the designation is often a
statement relating to the economic dominance
of either the light or the heavy elements. LREE
deposits are the most common and HREE are
generally more valuable than LREE. Molycorp’s
Mountain Pass deposit is dominated by LREE
(Long, Van Gosen, Foley, and Cordier, 2010).
A 2010 study by the U.S. Department of Energy
(DOE) addressed the supply of critical minerals in
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the United States. They used the term critical as a
measure of importance to the economy, availability
of clean energy, and risk of supply disruption.
Among other minerals and elements addressed,
they considered five REE (Dy, Nd, Tb, Eu, and
Y) as most critical in the short term future of the
United States.
Currently, REE projects being investigated for
exploration or development in the United States
include: the Bear Lodge deposit in Wyoming;
Bokan, Alaska; La Paz, Arizona; Diamond Creek,
Idaho; Lemhi Pass, Idaho and Montana; Pea Ridge,
Missouri; Elk Creek, Nebraska; Thor, Nevada; and
Round Top, Texas (U.S. Geological Survey, 2013).
rEE Prices
REE prices have risen substantially in the last decade.
Between October 2009 and June 2011, prices
for all REE rose 1,500 percent, then retreated
significantly during the latter part of 2011 (Saywell,
2011). Prices retreated further during 2012,
but remained substantially higher than in 2010
(U.S. Geological Survey, 2013). Although there
have been major fluctuations, prices are expected
to remain high until a chain of supply, processing,
and manufacturing has been established outside of
China. Table 4 shows the rising prices along with
fluctuations in 2008, 2010, and 2011.
Relative market values for REE are highly variable
and depend in part on the source quoted.
Prices also depend on the level of purity, which is
determined by the specifications for any particular
application (Lynas Corporation, 2011). Pricing
occasionally addresses individual metallic elements.
However, most references cite REE in oxide form,
reported as REO. REO concentrates vary in their
elemental mixes based on those found in their
source deposits. REO prices vary accordingly and
may not be comparable between one deposit and
another. Concentrates range from near 40 percent
REO to 99 percent REO. One of the best sources
for current REE price information is Metal-Pages
(www.metal-pages.com/metalprices/rareearths),
which requires a subscription to view.