RAMACO RESOURCES STUMBLES UPON A SIGNIFICANT DEPOSIT OF UNCONVENTIONAL RARE EARTH ELEMENTS 

Wyoming is on the cusp of attaining an unanticipated prominence within the United States' Rare Earth Elements (REE) market. Ramaco Resources, coupled with the research team of the Department of Energy’s National Energy Technology Laboratory, has made a serendipitous discovery in their former Brook mine located in Wyoming. After an arduous 18 month period of relentless core drilling and independent chemical scrutiny, a major unconventional deposit of REEs was unearthed. The significance of this find resides in the high concentration of magnetic REEs such as the  heavy  REEs Terbium and Dysprosium, as well as lighter REEs like Neodymium and Praseodymium.

Commenting on the remarkable find, Randall Atkins, Ramaco CEO and Chairman quoted,  We view this as an exciting and perhaps transformative new direction for our company.  Preliminary estimations reveal that approximately 28% of deposit concentrations might be in the form of MREEs. Undeniably, this substantial discovery holds the potential to propel Ramaco to the pinnacle of the REE market in the United States, a position that until now has been monopolised by a single active mine, located near the Mojave Desert in California. 

In addition to their regular mining operations, Ramaco is envisaging evaluating the most suitable mining, processing, and mineral development plan for its newly-found REEs. There is also a comprehensive economic analysis in the offing. With an affirmative nod from its board of directors, the company is set to continue the assessment of this prosperous opportunity. Additional testing results are expected to be revealed periodically, refreshing the anticipation surrounding this discovery.

Atkins added,  We will approach the potential to develop critical minerals with the same conservative capital expenditure and development discipline that we have applied to our core metallurgical coal business. We are also well positioned to allocate initial capital to begin a step-by-step development program.  This mindful and systematic approach is expected to safeguard against any financial risks, while also exploring the enormous potential of this new venture. 

All eyes are now on Ramaco as expectations from stakeholders and industry observers run high. If the initial diligence results maintain their promise, the company is looking forward to widening its national footprint. The vision for Ramaco now extends to not only being a low-cost supplier of strategic REE critical materials from Wyoming but, as Atkins concluded,  as well as continuing as a producer of metallurgical coal in Central Appalachia.”

The market is yet to witness the potential upheavals this development would bring, but there is little doubt that this could be a game-changing discovery. As Ramaco continues to evaluate this prospect, the energy industry eagerly awaits the positive transformations this venture could potentially herald. This pivotal moment could very well be the genesis of a new era, triggering a dynamic shift in the rare earth elements terrain in the United States.