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U.S. Tariff Policy Changes to Benefit American Rare Earths Ltd.

May 15, 2024 at 08:03 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

DENVER, May 15, 2024 (GLOBE NEWSWIRE) -- American Rare Earths Ltd. (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) stands to gain significantly from the recent U.S. tariff policy changes targeting critical minerals and technology sectors. The announcement by the U.S. Trade Representative emphasizes stricter measures on imports, particularly from China, which is poised to escalate the demand for locally sourced critical minerals.

American Rare Earths, with its strategic projects at Halleck Creek in Wyoming and La Paz in Arizona, is well-positioned to capitalize on this shift. These sites, among North America's largest rare earth deposits, are central to the company's efforts to supply resources vital for the clean energy transition, including those used in electric vehicles and renewable energy technologies.

As the U.S. moves to enhance its domestic supply chains for critical minerals, American Rare Earths expects an increase in demand for its products. This policy shift aligns with ARR's ongoing initiatives to expand its operations and strengthen its market position in a rapidly evolving industry.

Donald Swartz, Chief Executive Officer of American Rare Earths commented:

“It is encouraging to see the Biden administration acknowledge that the United States can no longer rely on geopolitical rivals to supply materials essential to national security. The phase-in of the tariffs aligns very well with our American development strategy, as we continue to advance our flagship Halleck Creek magnetic rare earth project in Wyoming.”

You can read the full White House statement here.

About American Rare Earths Limited:

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) owns the Halleck Creek, WY and La Paz, AZ rare earth deposits which have the potential to become the largest and most sustainable rare earth projects in North America. American Rare Earths is developing environmentally friendly and cost-effective extraction and processing methods to meet the rapidly increasing demand for resources essential to the clean energy transition and US national security. The Company continues to evaluate other exploration opportunities and is collaborating with US Government supported R&D to develop efficient processing and separation techniques of rare earth elements to help ensure a renewable future.

Contact:
Susan Assadi
Media Relations US
sassadi@americanree.com
347 977 7125

Beverly Jedynak
Investor Relations US
Beverly.jedynak@viriathus.com
312 943 1123