Texas Rare Earth Resources (OTCQX: TRER) is an exploration stage mining company with its flagship property, Round Top Mountain, near Sierra Blanca in Hudspeth County, Texas. SNNLive caught up with Anthony Marchese, Chairman of Texas Rare Earth Resources Corp. at the Growth Capital Expo 2015 in Las Vegas, NV.
Mr. Marchese begins this interview with a brief overview, “Texas Rare Earth Resources is a domestic company with a heavy rare earth deposit about 80 miles southeast of El Paso, TX with simply amazing infrastructure.”
“The heavy rare earth minerals are, today, 100% produced in China. There are some other projects in North America, but our project is pre-dominantly a heavy rare earth project, again, outside of El Paso, TX. We could ultimately sell our production many times over to just the defense industry, who has a need for the product,” he continues.
When asked about the importance of rare earth elements to the military and industrial complex in the Western World, he explains, “First of all, heavy rare earth minerals are in any new-tech application. Apple would be out of business without access to the heavy rare earths – every iPod, iPad or anything that we use today in the consumer products area have heavy rare earths. In the case of the military, virtually any project, program developed in the last 5 years uses heavy rare earth raw materials.”
“We have an amazing array of bi-products in addition to our heavy rare earths. First of all, we just signed an agreement for our uranium bi-product with Areva of France, which is an $8 billion French company, the world leader in nuclear power. We also have a lithium resource, which, at full capacity, we produce about 9,000 tons a year of lithium carbonate equivalent, so at $7,000 current selling price, you can do the math,” Mr. Marchese states.
“We will be in production once we get fully funded, we’ll be in production within, in my opinion, assuming everything goes well with licensing, which by the way, we are on state property, not federal property, which is a key consideration, I would estimate within 24 months,” he goes on to say. For more information about Texas Rare Earth Resources, go to: www.TRER.com
Since speaking with Mr. Marchese, the company has made the following announcements:
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