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Texas Mineral Resources and USA RE Provide Operations Update

The date of: 2020-04-03
viewed: 1
Texas Mineral Resources and USA Rare Earth Provide Operations Update


 

source:Associated Press

Colorado pilot plant has received all permits required to complete construction and is anticipated to be fully operational within 6 weeks

Leach optimization and continuous ion exchange process design work continues with results consistent with published Preliminary Economic Assessment (“PEA”)

Texas Mineral Resources Corp. (TMRC), an exploration company targeting the heavy rare earths and a variety of other technology metals and industrial minerals, and USA Rare Earth, LLC, its funding and development partner, are pleased to provide an operations update with respect to its flagship Round Top project.

“Our first priority is to safeguard the health and well-being of our employees, partners and contractors,” said Anthony Marchese, Chairman of TMRC. “Fortunately to date, the COVID-19 outbreak has had a minimal effect on our development activities. With all necessary permits now in place, we anticipate operations to begin within six weeks as we comply with the state of Colorado COVID-19 guidelines.”

“While preparation continues at the Colorado pilot plant, our metallurgical and processing development partners have been making excellent progress at their own facilities,” said Dan Gorski, CEO of TMRC and Director of Operations at USA Rare Earth. Leach optimization tests have been progressing as planned and the results to date have been consistent with those anticipated in the Round Top Preliminary Economic Analysis (“PEA”). Likewise, process design with respect to the continuous ion exchange process is generating results consistent with those anticipated in our PEA.

“Our hearts and prayers go out to all those affected by the recent worldwide COVID-19 outbreak. We are fortunate to have been able to continue our development activities with minimal disruption,” said Pini Althaus, CEO of USA Rare Earth. “The recent outbreak further reinforces the need for the United States to develop its own critical mineral supply chain. It has become clearly apparent that we cannot rely on foreign countries for our critical mineral needs irrespective of any prior trade relationships. Our goal is to bring Round Top into production as quickly as possible while implementing tangible measures to re-establish a “mine-to-magnet” domestic rare earth and critical minerals supply chain solution.”



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