1,250 Metres of Initial Drilling Results Chart Rare Earths Americas’ Path in Brazil
Key Facts
Rare Earths Americas announced initial assay results covering about 1,250 metres of drilling at its Homer-A project in Brazil, or 8% of the 15,000-metre drilling program planned for 2026. The results place the project in the exploration stage, as the company describes itself as developing rare earth projects in the United States and Brazil. At Homer-A, the company said initial testing covered an area of about 2.15 square kilometres and that mineralisation begins near the surface, with an average thickness of about 20 metres as of the announcement. These remain indicators derived from sample assays and early drilling; they do not establish the existence of an operating mine or commercial production. The company has also not announced, in the information available, results establishing the project’s economic viability.
In Brazil, the company is working on 3 projects—Alpha, Constellation and Homer-A—spread across different areas and at varying stages of development. The Constellation project is central to a new assessment effort: the company announced that its initial assessment had begun, targeting completion by mid-2027. It said the assessment will include a mineral review and preliminary mine plan, along with an estimate of annual production potential. It is also scheduled to cover infrastructure, permits and the project’s preliminary economics. This work is the scope of a planned study, not an announcement of production or a final investment decision.
At Homer-A, the company said metallurgical testing is under way to examine whether the rare earth elements are associated with clay in a way that would allow them to be extracted easily. Recoverability remains under assessment, a question distinct from identifying mineralisation in drill samples. Initial results alone are therefore insufficient to establish that the discovered material can be processed economically or that the project can reach production. The company’s announcement of the test area and thickness comes within a broader program, of which the disclosed portion amounted to no more than 8% of the drilling planned for 2026. Subsequent assay results and metallurgical testing could add data to the project assessment without settling it in advance.
The company’s projects come as Washington and Brasília have been working for years to expand cooperation on critical minerals. On 10 November 2020, the U.S. State Department and Brazil’s Ministry of Mines and Energy announced the formation of a joint working group to strengthen diplomatic and technical cooperation, including on supply security, investment and supply-chain integration. In August 2026, the U.S. Department of War announced a $750 million investment to support an offtake agreement for products from Brazil’s Pela Ema project. The department said the amount was part of a total investment structure valued at $1.55 billion, which also included a $300 million purchase commitment from the Defense Logistics Agency and a $500 million commitment from a bank. That support is for the Pela Ema project owned by USA Rare Earth and does not represent financing for Rare Earths Americas’ projects.
When it launched its platform in August 2025, Rare Earths Americas announced that it had raised A$25.0 million in private funding, equivalent to about $16 million, to support its projects in the United States and Brazil. Its chief executive at the time described the company’s aim as developing projects that support long-term supplies of critical materials, drawing on what he described as ore grade and strategic geographic location. By its own description, the company remains at the exploration stage, while its Brazilian projects are at varying stages, from initial assays to announced assessments. REA shares closed at $7.96 on 30 October 2026, according to EL7 data. The next stated target date is completion of the initial assessment of the Constellation project by mid-2027.