Ramaco Resources’ board has given the green light to a project that will create the US’ first national stockpile of rare earth elements (REEs) and critical minerals at its Brook Mine facility in Wyoming.
The strategic critical minerals terminal (SCMT) will be developed in collaboration with a nationally recognised commodity structuring and financial advisor.
The SCMT is set to position Ramaco as a fully integrated producer of critical minerals and REEs in the US, covering all stages from upstream to midstream and downstream operations.
The terminal is designed to provide secure, reliable access to REE and critical minerals for both private and public sectors, addressing national needs for critical rare earth applications.
The initiative utilises Ramaco’s mineral resources in conjunction with external expertise to provide long-term solutions for extraction, processing and inventory management, aiming to reduce supply chain risks and guarantee consistent access to strategic materials.
The project will provide strategic stockpiling, storage and inventory management for a wide range of critical minerals and REEs.
Ramaco plans to process its own materials and provide tolling services for third-party producers, enhancing the domestic supply chain.
The terminal will manage the inventory to ensure safety, security and market price availability for consumers.
Ramaco’s Brook Mine has direct access to the BNSF railroad and is next to a major interstate highway, ensuring efficient material transportation and distribution of materials.
The company is collaborating with a commodity advisor with extensive expertise in physical commodity structured finance.
This project is expected to generate stable cash flows and serve as a national infrastructure asset.
The Brook Mine, spanning more than 15,800 acres, with 4,500 acres permitted, is a primary source of scandium, gallium, germanium, and heavy and light RREs.
Ramaco’s board has authorised a plan to increase the annual rare earth and critical mineral oxide production to approximately 3,400 tonnes (t).
This reflects a 174% surge in oxide production, aligning with Ramaco’s stated objective to boost annual coal output from two million tonnes (mt) to 5mt.
Weir’s technical report summary on the authorised acreage confirmed an estimated 1.4mt of total rare earth oxide (TREO), encompassing gallium, scandium and germanium.
This figure has the potential to rise with additional exploration efforts.
The company is planning to enhance the US critical minerals supply chain, bolstering national security and fostering innovation within the rare earths sector.
