MoU signed with Novex to advance oxide to metal production

• Signed MoU with Novex to convert separated rare earth oxides into metals
• Focus on developing a fully domestic U.S. mine-to-magnet supply chain
• Objective is to reduce dependence on Chinese imports and enhance national security

American Rare Earths Limited (ASX: ARR) has signed a Memorandum of Understanding (MoU) with Novex, LLC, a U.S. rare earth metallurgy company, to convert separated rare earth oxides from the Halleck Creek Project in Wyoming into metals required for permanent magnets. The MoU outlines a framework for long-term collaboration, including process optimization, metallization of demonstration plant output, and the joint design of a domestic rare earth metal production facility. The partnership aims to establish a fully domestic U.S. mine-to-magnet supply chain, addressing national security concerns and reducing dependency on Chinese imports.