Correct without the hype - The report requires close reading but...

Correct without the hype - The report requires close reading but it makes clear that the eventual extraction of REEs will be much smaller than the reported 2.34 billion tonnes. When REEs are discovered, the in-situ deposits are estimated based on grades of parts per million (ppm). In this case, the Halleck Creek site is estimated to have an average grade of 3195 ppm. With some relatively simple math, the report makes clear that total rare earth oxides contained in the deposit are estimated to be 7.5 million tonnes. That is still a significant find, but certainly not enough to make the United States a leader in the REE market.