Harena Rare Earths Secures 100% Paradigm Critical Minerals Assets Near Mountain Pass Mine
Harena Rare Earths secured exclusivity to acquire 100% of Paradigm Critical Minerals’ rare earth and uranium permits adjacent to MP Materials’ Mountain Pass Mine in San Bernardino County, California. The deal could boost regional exploration competition and affect MP Materials’ production outlook.
1. Exclusivity Agreement Signed
Harena Rare Earths has signed an exclusivity agreement to explore the acquisition of a 100% stake in Paradigm Critical Minerals’ rare earth and uranium assets located in San Bernardino County, California. The agreement grants Harena an exclusive period to conduct detailed technical, legal and commercial due diligence.
2. Asset and Geological Highlights
The permits cover a mining-rich district with existing infrastructure and regulatory support, lying adjacent to MP Materials’ Mountain Pass Mine. Historical drilling of over 4,200 meters identified elevated rare earth ratios and uranium grades up to ten times those currently mined globally, indicating significant large-tonnage potential.
3. Strategic Implications for MP Materials
If Harena proceeds to a definitive transaction, the acquisition would introduce a new exploration peer in the Mountain Pass region, potentially increasing local rare earth supply. This heightened competition could influence MP Materials’ production planning, regional pricing dynamics and long-term project prioritization.