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US Rattles China, Discovers 2.34 Billion Tons of Gold in Wyoming

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US Rattles China, Discovers 2.34 Billion Tons of Gold in Wyoming

US Rattles China, Discovers 2.34 Billion Tons of Gold in Wyoming

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The U.S., in the midst of an economic crisis, has long been a boon for China. However, a seismic shift is on the horizon, one that has the potential to end China’s dominance in the rare minerals market. It’s all thanks to the abundant discovery of raw minerals in Wheatland, Wyoming. This discovery could potentially alter the dynamics of global trade, marking a significant shift in power.

China’s Dominance in the Market

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If you’ve come across rare earth minerals at any point in your life, there is a very high probability that they came from China. That is how dominant the country has been in the raw minerals industry. And they make sure the world never forgets it.

An Opportunity For America

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The US has always depended on China for its raw minerals, but dealing with them is not easy. China recently announced a ban on extracting earth minerals, further tightening its hold over the market. This highlights why the United States’ attempt at finding an alternative source of economic independence must be achieved. The discovery that has now been made in Wyoming is an opportunity to end China’s monopoly on the market and stabilize the hailing economy. 

China On Guard

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Since news of the discovery broke out, there is no doubt that China, ever the shrewd nation, knows exactly what is coming. To stay ahead in what is looking like a race for dominance now, they will need to work hard. 

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Strategic Land Acquisition Ahead of the Gold Rush

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One company is already thinking ahead while the world reels from the information. America now has a reservoir of rare minerals in Wheatland, Wyoming, and those lands belong to someone or some persons. That’s why American Rare Earths Inc. is suddenly interested in buying up as much land as it can because the discovery is like nothing ever seen before. 

How Much Raw Minerals Is It Exactly?

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One of the initial estimates was that 1.2 billion metric tons of precious minerals would be found in Wyoming. However, this was wrong. According to American Rare Earth Inc.’s data, after a thorough analysis, 2.34 billion metric tons are waiting to be extracted, a 64% increase from the initial estimate. 

Drilling Has Barely Begun

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Donald Swartz, CEO of American Rare Earth Inc., is one of those most excited about the new discovery. According to him, the finding exceeded all their expectations even though only about 25% of the property had been drilled.

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There Is More Demand For Rare Earth Minerals

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The timing of this Wyoming discovery could not have been any better. It has come at a time when there is increased demand for rare earth minerals, especially magnet metals, linked to the production of wind turbines and electric vehicles.

An Unusual Discovery

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The size of the find continues to baffle Swartz and many of the experts. According to the CEO, it seems like the minerals continue to increase the deeper they go. This is unusual with such discoveries, as they tend to shrink as infill drilling starts to occur. With 25% of the drilling done, they all believe the quantity is only increasing. 

How It Will Affect the Job Market

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With the amount of work it will take to unearth all that Wyoming has to offer, the American job market is sure to boom, with many jobs being created and sustained for years to come. This will be enough for the local community and then some, a salve on the country’s bleeding economy. 

How Long the Jobs Will Be Around For

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According to calculations made by American Rare Earth Inc. the jobs that will be created in the wake of the raw minerals discovery in Wyoming will be numerous and will be around for the next three decades at least. They will attract a lot of liquidity to Wyoming, where the workers will settle, and America as a whole. 

 

Is the World Market Ready For a Large Supply?

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At this time, the global demand for raw minerals is 60,000 tons per year. This begs the question: Will the market be able to take in a large influx from a large mine? And an even bigger question: Will America just hit the market with the overwhelming reservoir? Or will they be able to find “modular and scalable” ways to deal with this, as Swartz hopes? 

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The Future Looks Bright

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The new discovery has painted a bright and positive future for America. It will not only end China’s dominance in the mineral market but aid America’s desire to end its reliance on trade with China. These are big wins for the nation and many will come to see this in the years that follow. 

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