#United States #Sheridan #Ramaco Resources #Brook Mine #Wyoming Energy Authority

Ramaco Resources Secures Funding for Pioneering Rare Earth Project

In a significant boost to the renewable energy sector, Ramaco Resources, Inc., known for its pivotal role in metallurgical coal and critical minerals, has been awarded a $6.1 million matching grant from the Wyoming Energy Authority. This financial support was authorized by Governor Mark Gordon and plays a crucial role in advancing Ramaco's innovative Wyoming CORE (Carbon Ore Rare Earth) Brook Mine project.

Ramaco's investment aims at constructing and equipping a cutting-edge pilot processing facility designed for rare earth elements (REE) and critical minerals, located just north of Sheridan, Wyoming. This initiative not only emphasizes Ramaco’s commitment to rare earth processing but also marks the potential establishment of the first new rare earth mine in the United States since 1952.

A Step Towards National Security and Economic Development

In a statement regarding this milestone, Randall Atkins, Chairman and CEO of Ramaco Resources, expressed pride in the company's long-standing relationship with Sheridan and its commitment to Wyoming's economy. “The recent discovery that our state's rich coal resources also contain rare earth and critical minerals positions Wyoming at the forefront of fulfilling our nation’s energy and security needs,” he asserted. This grant signifies the collective effort of state officials to foster job creation and economic development, aligning with Ramaco’s strategic vision for sustainable growth.

The Brook mine project has gained recognition from the U.S. Department of Energy's National Energy Technology Laboratory as one of the largest unconventional deposits of rare earth elements globally. Ramaco's ambition to extract these valuable resources seeks to establish a robust supply chain, which is essential for renewable energy technologies and national defense.

Innovative Processing Technologies

The grant will facilitate the design and construction of an innovative facility that will incorporate advanced technologies aimed at producing concentrated mixed rare earth oxides and other essential minerals from Wyoming's abundant coal deposits. This facility, set to commence construction in Fall 2025, is poised to be the first in the nation to employ energy-efficient techniques such as beneficiation and hydrometallurgy to convert carbon ores into usable rare earth oxides. This approach not only enhances the efficiency of mineral extraction processes but also aligns with environmentally sustainable practices.

In an era where the demand for rare earth elements continues to escalate, fueled by the shift towards clean energy technologies, the successful operationalization of the Brook mine could dramatically reshape the U.S. rare earth supply landscape. The anticipated job creation and economic stimulation for the local community in Wyoming are expected to resonate beyond state lines, making this project nationally significant.

Ramaco Resources: The Company Profile

Ramaco Resources, Inc. is an established operator and developer in the metallurgical coal landscape, primarily in southern West Virginia and southwestern Virginia. Their operational footprint includes four active metallurgical coal complexes alongside burgeoning developments in rare earth and critical minerals extraction in Wyoming. Headquartered in Lexington, Kentucky, with operational offices in Charleston, West Virginia, and Sheridan, Ramaco is positioned at a pivotal juncture in the mining industry.

Their ongoing commitment to expanding their operations hinges on extensive research and development, underscored by a portfolio of approximately 60 intellectual property patents and exclusive licenses. The company’s strategic positioning and forward-thinking initiatives showcase not only its resilience in the coal market but also its adaptability to evolving energy demands.

In conclusion, Ramaco Resources stands at the nexus of traditional mining and future-focused resource management. By harnessing the potential of Wyoming's coal reserves for critical mineral extraction, the company not only contributes to the local economy but also plays a crucial role in addressing the pressing energy demands of the nation. With initiatives like the Brook mine project, Ramaco is not just mining for coal; it’s mining for a sustainable future.