The mining company set to explore a state-owned site in Texas for rare earth minerals has brought in FTI Consulting for strategic communications support.
Mine portal on Round Top mountain. Photo: TRERC |
Texas Rare Earth Resources Corp. is hoping to tap a renewed look within the United States for the minerals as the world’s top supplier China continues to cut back on exports of the crucial materials for technology products to fuel its own development.
The Denver-based mining company, which is completing its preliminary economic assessment of a Lone Star State site 85 miles east of El Paso known as Round Top, said bringing in PR help is the “natural next step” to reach business and stakeholders.
CEO Marc LeVier said FTI has extensive experience in the mining sector and is helping TRERC “effectively articulate our long-term value proposition” at a “critical time” in its development.
FTI’s strategic communications unit is the former FD.
Texas has given its okay for drilling on the site with any proceeds to benefit its education fund.
China’s lockdown on rare earth minerals, started in 2009 but ramped up of late, sparked the U.S., European Union and Japan to file a landmark joint case before the World Trade Organization this month accusing China of violating international trade rules.
The minerals have a variety of applications, notably in technology products like cellphones, computer hardware and lighting.
The U.S.’s lone rare earth mine at Mountain Pass, Calif., which was once the top global supplier of the materials and is owned by Molycorp, is expected to be brought back to operation this year. It was shut down by Chevron in 2002 amid cheaper competition and environmental concerns.