WASHINGTON--(BUSINESS WIRE)--The United States Magnetic Materials Association (“USMMA”) today announced the addition of Texas Rare Earth Resources and Stans Energy as members of the comprehensive rare earth industry collaboration. The move increases the association’s core membership to ten, innovative companies.
Texas Rare Earth Resources (OTCQB: TRER) is a mining company engaged in the exploration and development of mineral properties. Its flagship property, Round Top Mountain in Hudspeth County, Texas, is held under a 20-year renewable lease from the State of Texas to explore and develop a rare earth-uranium-beryllium prospect which includes niobium, tantalum and gallium. The lease with the State of Texas covers 860 acres and prospecting permits covering an adjacent 9,345 acres. Independently published data indicates the property may contain approximately 1.6 billion metric tons of rhyolite containing rare earths with an approximate 70% ratio of heavy to light rare earths.
Stans Energy (TSX-V: HRE, OTCQX: HREEF) is a resource development company focused on progressing properties in areas of the Former Soviet Union. In October 2009, Stans acquired a 20-year mining license for the past-producing Kutessay II rare earth mine from the Kyrgyz Ministry of Natural Resources. In January 2011, Stans signed an agreement to purchase the only Heavy Rare Earth Element (HREE) Processing Complex in the world located outside of China. For over 30 years, Kutessay II produced 80% of the rare earth metals for the former Soviet Union. Stans’ goal is to become the first HREE producer outside of China, and long term, to become a world leader in HREE development.
Together these two companies will prove to be valuable additions to the USMMA.
“Texas Rare Earths and Stans Energy represent a growing number of domestic and international companies dedicated to providing a secure source of rare earth materials to support the United States rare earth magnet industry,” said USMMA President Ed Richardson. “Our growing membership represents a secure, competitive and cooperative means of advancing the rare earth industry.”
By the end of 2011, USMMA membership will represent a complete mine-to-magnet capability for the rare earth industry including:
1. retrievable and highly usable rare earth elements from reliable
domestic and ally-nation property holdings,
2. rare earth mining and concentration capability,
3. reliable rare earth separation capability,
4. domestic metal and alloy manufacturing capability, and
5. high performance magnet manufacturing capacity and capability to serve a wide variety of commercial products, hybrid vehicles, wind turbines, other renewable energy applications, and national security systems.
Before USMMA’s establishment, the United States had few options except virtually total reliance upon a Chinese-dominated supply chain of rare earth materials, elements essential to numerous renewable energy and defense systems including wind turbines, hybrid-electric batteries, computer hard drives and precision-guided munitions. China currently provides over 97% of the world’s rare earth raw materials and dominates the world’s rare earth refining, alloying and manufacturing.
USMMA was founded in 2006 by magnet manufacturers Thomas & Skinner, Inc. of Indianapolis, Indiana; Hoosier Magnetics of Ogdensburg, New York; and Electron Energy Corporation of Landisville, Pennsylvania, to advocate on behalf of the specialty metals clause found at 10 U.S.C. 2533b.
More information on the USMMA can be found here.
Thomas & Skinner is the world leader in high-performance magnets and magnetic materials used in strategic weapons systems. Our cast and sintered alnico magnets, magnetic assemblies, and transformer laminations are considered the best in the industry. Through its wholly owned subsidiary, Ceramic Magnetics, Inc., Thomas & Skinner is also a leading manufacturer of soft ferrite magnets. We are committed to providing our customers with the highest-quality, highest-performing magnetic materials available.
Electron Energy Corporation (EEC) offers unmatched expertise in rare earth magnets, assemblies and systems. Founded in 1970, EEC is an ITAR and DFARS-compliant, US supplier, that develops and produces custom Samarium Cobalt (SmCo) and Neodymium-Iron-Boron (NdFeB) sintered permanent magnets and assemblies. EEC is dedicated to improving rare earth magnet performance to meet the most technically demanding applications in aerospace, military, medical, electronics, and motion control markets.
U.S. Rare Earths, Inc., an American natural resources development company based in Salt Lake City and New York City, holds large resources and reserves of high-grade rare earth metals and the largest documented high-grade thorium properties in the world within its properties in Idaho, Montana, and Colorado, including 80% of known and estimated U.S. reserves.
Hoosier Magnetics, Inc. specializes in the manufacturing of hard ferrite powders used in a wide variety of permanent magnet applications. Founded in 1975 in Washington, Indiana; Hoosier is a privately held company owned by Dr. B. Thomas Shirk.
Arnold Magnetic Technologies (Arnold) produces cast and sintered Alnico, RECOMA® brand Samarium Cobalt (SmCo), bonded Ferrite and Neodymium magnets, all varieties of magnetic Assemblies, and ultra-thin precision foil and strip. Arnold’s Alnico, SmCo and silicon steels are DFARS compliant and work done at any of our six (6) US-based facilities is also ITAR compliant. We also offer Neodymium-Iron-Boron magnets and have multiple fabrication facilities for magnets and assemblies utilizing all commercially available magnet materials.
Great Western Technologies Inc. is a leading production facility in North America for rare earth materials, powders, and custom vacuum-grade specialty alloys. GWTI provides research and development, process development, consulting, and innovative products and services to clients worldwide. GWTI, in partnership with its parent company, Great Western Minerals Group Ltd., is part of the first vertically integrated structure in North America to produce and process rare earth elements for advanced technology and alternative energy markets.
Lynas Corporation is creating a reliable, fully integrated source of supply from mine through to customers, and aims to become the benchmark for security of supply and environmental standards in the global Rare Earths industry. Lynas has developed a mine at its rich deposit of Rare Earths at Mt. Weld in Western Australia, and will produce separated rare earth products from its Advanced Materials Plant which shall commence production in Q3 2011.
Ucore Rare Metals Inc. is a Canadian resource exploration company focused on rare metal ores, among the primary input materials of technology applications in the 21st century. Ucore maintains holdings across North America including Bokan Mountain, estimated to be one of the most significant Dysprosium and other Heavy Rare Earth deposits within the United States.
Texas Rare Earth Resources Corp is a North American based mining company engaged in the exploration and development of mineral properties. Their flagship property, Round Top Mountain in Hudspeth County, Texas, is held under a 20-year renewable lease from the State of Texas to explore and develop a rare earth-uranium-beryllium prospect which includes niobium, tantalum and gallium.
Stans Energy Corp is focused on developing the materials necessary to meet the clean energy demands of the future. Their goal is to build and produce our licensed properties containing rare earths, uranium, and associated metals in the near term. Stans company growth will come from acquiring, and participating in the development of, resource properties located in areas of the former Soviet Union.