Mine no more: U.S. Rare Earths withdraws $15 million IPO

U.S. Rare Earths, an exploratory rare earth elements mining company, withdrew its plans for an initial public offering on Wednesday.

It had set terms to raise $16 million in January 2015 at a $62 million market cap.

The Plano, TX-based company, which was founded in 1999, had planned to list on the NYSE MKT under the symbol UREE. Aegis Capital Corp. was set to be the sole bookrunner on the deal.