Rare Element Resources CEO Brent Berg to resign in April

LITTLETON, Colo. – Rare Element Resources Strategic Materials, Inc. (OTCQB: REEMF) announced the impending resignation of President and Chief Executive Officer Brent Berg, who will leave the company on April 2, 2024. Berg, who has been in charge of the company since November 1, 2022, will also leave the company. A board meeting was held on the same day.

In a company statement, board chairman Gerald Grandey thanked Berg for his contributions, particularly in advancing the company’s rare earths demonstration plant. Grandi highlighted key achievements under Berg’s leadership, including the issuance of a U.S. Nuclear Regulatory Commission raw materials license and a review of the U.S. Department of Energy’s National Environmental Policy Act, both completed in 2023, both of which found no significant impacts.

These milestones pave the way for the Energy Department’s budget approval in December, allowing construction of an on-site rare earths mining and separation plant to begin. The plant, in partnership with a project team led by General Atomics, is expected to begin operations in the third quarter of this year.

The board has begun a search for Berg’s successor, who will continue to perform his duties until his departure. Rare Elements Resources, Inc. is focused on developing the Bear Lodge rare earths project in northeastern Wyoming, which is known for its critical mining area where important rare earths are used in a variety of high-tech applications.

The company’s major shareholder, Synchron, is part of General Atomics, a developer of technology products in the energy and defense fields.

This announcement is based on a press release statement.

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