Powermax Minerals Secures 184 Hectares in Wyoming Near Bear Lodge Project
Powermax Minerals holds 100% of the Ogden Bear Lodge Project in Wyoming, comprising 22 mining claims over 184 hectares. The proximity to the Bear Lodge Critical Rare Earth Project, which has attracted over $170 million in investments, positions Powermax favorably amid rising demand for rare earths, projected to triple by 2035.
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Powermax Minerals controls the Ogden Bear Lodge Project in Crook County, Wyoming, covering 184 hectares and focused on high-grade neodymium-praseodymium mineralization. This project is adjacent to the Bear Lodge Critical Rare Earth Project, which has secured significant investment, including $24 million from the US Department of Energy.
The US DOE has allocated $1 billion for critical minerals projects by 2025. Despite this strategic positioning, Powermax's stock has declined by nearly 83% this year, indicating market skepticism due to a lack of resource estimates and exploration results. The demand for rare earths is anticipated to reach approximately 176,000 tons by 2035, driven by electric mobility and wind power, highlighting the sector's growth potential.
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