CommoditiesMedium•30 September 2026•
1 min read
Cowboy State Mine Study Raises Project NPV to $1.07 Billion
Key Facts
1An updated scoping study for the Cowboy State Mine in Wyoming shows an after-tax NPV of approximately $1.07 billion.
2Planned throughput increased by 50% to 4.5 million tonnes per annum, with the mine life extended to 26 years.
An updated scoping study for the Cowboy State Mine in Wyoming shows an after-tax net present value (NPV) of approximately $1.07 billion. GlobeNewswire reported that American Rare Earths Limited has increased planned throughput by 50% to 4.5 million tonnes per annum, while extending the projected mine life to 26 years.
The update reflects optimized recovery processes and a larger production platform designed to support the domestic U.S. rare earth supply chain. Initial capital for the project is estimated at $900 million, which includes $210 million in contingency costs, according to company data released on September 30, 2026.