Texas Mineral Resources is an exploration stage mining company with its flagship property, Round Top Mountain, near Sierra Blanca in Hudspeth County, Texas. The Texas Bureau of Economic Geology first recognized the unique geology of Round Top Mountain some 25 years ago. But few uses existed then for the rare earth elements found in the mountain. In the 21st Century hybrid and electric cars, wind power generators, the military, electronic, and optics (laser) technology industries created dramatic demand for rare earth elements, which are critical to the advancement of these and other high tech fields.
An example of the grave security importance of rare earth elements is the 920 lbs of rare earths used in each F-35 Joint Strike Fighter jet, assembled by Lockheed Martin in Fort Worth Texas.
The United States buys 95 % of its rare earth elements from China.
Close to home, four rare earth elements are essential to the petroleum and refining industry. These are incorporated in the zeolite catalysts that make it possible to crack crude oil to create gasoline, diesel fuel, and a host of related hydrocarbon chemicals.
Our Sierra Blanca deposit contains vast quantities of rare earths that we plan to mine, purify, and market.
Our planned approach to this mining opportunity encompasses a 20-year mine life. It will be our mission to develop or import a skilled labor force inclusive of hiring veterans. The deposit is situated 3 miles from Interstate 10 and 3 miles from the railroad east of El Paso. The Texas General Land Office has been an ally and a promoter of our project and we currently hold two 19-year renewable mining leases. TMR has purchased an additional 1300 acres in the surrounding area and continues to pursue purchases of additional acreage.
TMR intends to be the nations supplier of the heavy rare earth elements. If and when we build this mine, we believe the technologies will follow. We plan to develop skilled people and create new industry in our state.
An updated edition of the preliminary economic assessment is forthcoming.