U.S. Tariff Policy Changes to Benefit American Rare Earths Ltd.
May 15 2024 - 8:03AM
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 AssadiMedia Relations
USsassadi@americanree.com347 977 7125
Beverly JedynakInvestor Relations
USBeverly.jedynak@viriathus.com312 943 1123
American Rare Earths (TG:1BHA)
Historical Stock Chart
From May 2024 to Jun 2024
American Rare Earths (TG:1BHA)
Historical Stock Chart
From Jun 2023 to Jun 2024