US Critical Materials and Bayan Mining and Minerals Announce Strategic Collaboration to Advance Rare Earth Processing Capability Utilizing Colorado School of Mines Technology
NEW YORK, May 13, 2026 (GLOBE NEWSWIRE) — US Critical Materials Corp. (“USCM”) and Bayan Mining and Minerals Ltd (“Bayan”) announce the execution of a non-binding Memorandum of Understanding (“MOU”) to evaluate rare earth processing technologies on high-grade mineralization from US Critical Materials Sheep Creek Project in Montana. The collaboration supports the shared objective of accelerating a U.S.-based rare earth processing pathway aligned with national-security, and the advancement of high priority AI technologies.
US Critical Materials’ Sheep Creek Project, located in Ravalli County, Montana, is the highest-grade validated rare earths deposit in the United States, containing light and heavy rare earth elements, including gallium, scandium, yttrium and other strategic minerals. US Critical Materials continues to advance its integration strategy through its technical partnerships, including ongoing work with Idaho National Laboratory, Columbia University, and Montana Technological Institute.
Bayan holds an exclusive global license to a suite of rare earth processing technologies developed by the Colorado School of Mines. The collaboration will evaluate the applicability of these technologies—focused on beneficiation, leaching, and separation—to Sheep Creek’s bastnaesite- and ancylite-hosted rare earths systems.
Advancing Domestic Processing Capability
The collaboration will undertake a structured metallurgical test program to assess recovery performance, process efficiency, and flowsheet optimization. Workstreams will be coordinated through a joint technical committee, with US Critical Materials maintaining oversight to ensure alignment with U.S. domestic-processing and national-security objectives.
The evaluation will include laboratory validation, iterative optimization, and scalability assessment. The results will inform potential downstream integration and future development decisions.
Executive Commentary Harvey Kaye, Executive Chair of U.S. Critical Materials Corp., stated: “This collaboration allows US Critical Materials to evaluate innovative processing technologies on some of the highest-grade rare earth mineralization in the United States. Our focus is to accelerate a U.S.-based processing pathway that strengthens national security, reduces foreign dependence, and unlocks the full potential of the Sheep Creek Project.”
Nathan Kong, Chief Executive Officer of Bayan Mining and Minerals Ltd, commented: “We look forward to supporting US Critical Materials’ evaluation of our technologies as they assess potential applicability to Sheep Creek’s unique mineral systems. This collaboration provides an opportunity to demonstrate the versatility of our processing platform within a U.S.-focused development framework.”
Pathway to Commercialization
US Critical Materials and Bayan will assess opportunities to establish a U.S.-based pilot or demonstration facility to support technology validation and scale-up. Any future development will be integrated with US government and commercial industry requirements.
All intellectual property, data, samples, and technical outputs generated from Sheep Creek remain the exclusive property of US Critical Materials. Any new intellectual property arising from the Collaboration will be subject to definitive agreements.
Potential Strategic Investment
US Critical Materials is evaluating a potential investment in Bayan that would provide visibility into complementary processing technologies. Any investment remains subject to definitive agreements and regulatory approvals.
About US Critical Materials Corp
US Critical Materials Corp. is a private exploration and technology company focused on developing rare-earth elements and critical minerals to support U.S. national security, supply chain independence, and advanced manufacturing. The company’s Sheep Creek Project in Ravalli County, Montana, is the highest-grade rare earths deposit in the United States, containing light and heavy rare earth elements, including gallium, scandium, yttrium and other strategic minerals. US Critical Materials is advancing the project through collaborations with Idaho National Laboratory and strategic partners focused on exploration, processing technologies, and domestic supply chain development. US Critical Materials is uniquely positioned because of its high-grade mineral assets, its relationship with Idaho National Labs, and access to numerous other processors to be the indispensable resource for helping the United States become rare-earth and critical mineral independent in the shortest possible time.
About Bayan Mining and Minerals Ltd
Bayan Mining and Minerals Ltd is an ASX-listed company focused on the development of rare earth element projects and processing technologies. The Company holds exclusive license to four rare earth processing technologies invented by the Colorado School of Mines and is advancing exploration at its 100%-owned Desert Star rare earth project in San Bernadino County, California. Bayan also holds a 100% interest in the Bayan Springs South gold-silver project and the Bayan Springs North silver-gold project, located in White Pine and Elko Counties, Nevada. Both projects are situated near major gold and silver discoveries and lie within the broader Carlin Trend
For more information visit: www.uscriticalmaterials.com, or LinkedIn – US Critical Materials Corp.
Brigit Hennaman
VP, Rubenstein Public Relations
[email protected]
212-805-3005
Rachel Winn
Director of Operations
US Critical Materials Corp.
[email protected]
801-680-7448
www.uscriticalmaterials.com
