American Rare Earths advances NASDAQ strategy as US policy strengthens Halleck Creek outlook
Last updated: 21:21 29 Jul 2026 EDT, First published: 21:11 29 Jul 2026 EDT
American Rare Earths Ltd (ASX:ARR, OTCQX:ARRNF) has reaffirmed its commitment to securing a NASDAQ listing as it positions the Halleck Creek Rare Earths Project to benefit from growing US demand for domestically sourced critical minerals.
The company is evaluating several potential routes to the US exchange, including a direct compliance listing, a US initial public offering and alternative transaction structures available to developers with American critical minerals assets.
A leading North American financial adviser has been engaged to assess transaction structures, market timing and investor positioning, although no final decision has been made on the preferred pathway.
US listing preparations advance
American Rare Earths is progressing the technical and financial reporting work required to support a US listing.
BDO Audit Pty Ltd is leading the company’s Public Company Accounting Oversight Board audit process, which is a prerequisite for listing on NASDAQ.
In parallel, the company is converting the mineral resource and reserve reporting for Halleck Creek to the US Securities and Exchange Commission’s Regulation S-K subpart 1300 standard.
This work is intended to provide US investors, analysts and regulators with technical disclosures prepared under the framework required for SEC registrants, while enabling American Rare Earths to move quickly once a listing structure is selected.
Chief executive officer Mark Wall said NASDAQ was the right market for the company given the scale and strategic importance of its flagship US asset.
“Our flagship Halleck Creek project is a US asset of strategic national significance, and our listing platform should reflect that,” he said.
US policy supports domestic rare earths
The listing strategy comes as the US Government moves to further reduce reliance on critical materials sourced from countries including China, Russia, Iran and North Korea.
American Rare Earths highlighted Executive Order 14415, signed on July 20, 2026, which restricts waivers relating to covered materials from January 1, 2027 and directs defence contractors to qualify alternative domestic supply sources.
The company believes the order strengthens the demand outlook for US-mined and processed rare earths and reinforces the strategic importance of Halleck Creek.
The order also recognises acquisitions from US Government-supported critical minerals projects, potentially providing a clearer route for qualifying domestic developments to participate in defence-linked supply chains.
American Rare Earths plans to continue engaging with US Government stakeholders as associated supply-chain mapping and domestic-source qualification regulations are developed over the next 90 to 180 days.
Halleck Creek development
Halleck Creek in Wyoming hosts what the company describes as the largest known rare earth deposit in the United States on a total rare earth oxide basis.
The Cowboy State Mine area is being assessed as a potential open-pit operation on Wyoming State land, where the project may benefit from an established permitting framework.
Feasibility-stage drilling is underway alongside a Whole of Property Development Assessment being completed by a US engineering firm.
Development plans contemplate onsite mineral processing and separation facilities, with the project targeting markets including defence, advanced manufacturing, electric vehicles, wind energy and semiconductors.
Next steps
American Rare Earths will continue assessing its NASDAQ listing options while advancing the PCAOB audit and S-K 1300 conversion work.
The company will also progress feasibility studies, drilling, permitting and broader development activities at Halleck Creek, with project execution remaining central to its strategy.
About American Rare Earths
American Rare Earths is a critical minerals developer focused on building a domestic US rare earths supply chain.
Through wholly owned subsidiary Wyoming Rare (USA) Inc, the company is advancing Halleck Creek and working with US Government-supported research programs on new rare earth extraction and processing technologies.
