Rare Earths Americas Alpha project: leach recovery uplift and PEA notes for engineers
Reviewed by Tom Sullivan

First reported on MINING.com
30 Second Briefing
Rare Earths Americas reports SGS Geosol lab tests at its Alpha ionic adsorption clay project in Bahia, Brazil have lifted rare earth leach recovery (excluding cerium) to about 40%, up from the 27% recovery assumption in Alpha’s Technical Report Summary, a 48% relative gain under different test conditions. Alpha holds an inferred 202 million tonnes at 1,520 ppm TREO at a 1,000 ppm cut-off, with NdPr and DyTb comprising roughly 21% and 3% of the basket, and 29% heavy rare earths in the tested composite. The improved metallurgical input feeds into an Initial Assessment now over 80% complete and targeted for Q1 2027.
Technical Brief
- Rare Earths Americas emphasised further work is required to determine overall flowsheet recoveries and project economics.
- Magnet rare earths (NdPr, DyTb) collectively formed 37% of rare earth content in the tested composite.
- Heavy rare earth oxides comprised about 29% of the cerium-excluded basket in the same composite sample.
- Alpha is one of three core heavy rare earth assets REA is advancing across Brazil and the US.
- REA positions these assets as potential non-Chinese supply sources for magnet and heavy rare earth elements.
- Market reaction was muted to negative, with REA’s NYSE American share price down 5% on the day.
Our Take
With Alpha in Brazil and the Shiloh heavy rare earths project in Georgia both in our database, Rare Earths Americas is one of the few NYSE-listed juniors pursuing a dual-continent rare earths portfolio, which can appeal to US offtakers looking to diversify supply between Latin America and the USA.
The Alpha project’s relatively high NdPr and DyTb basket fractions, combined with the heavy rare earth-rich Homer and Shiloh assets highlighted in recent coverage, suggest REA is positioning itself more towards magnet and heavy rare earth exposure than many clay-focused peers that are dominated by light rare earths.
REA’s current market capitalisation of about $150.7 million contrasts with the much higher valuation it achieved around its NYSE IPO in May 2026, signalling that even technically positive milestones like improved leach recovery may not yet be fully re-rating the stock in line with its growing Brazil–US asset base.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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