Latest news with #Ramaco Resources
Yahoo
20-07-2025
- Business
- Yahoo
America just opened its 1st rare earth mine in 70 years as 'our answer to China' — how you can take advantage
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. The U.S. has just opened its first rare earth mine in more than 70 years. On July 11, Ramaco Resources officially opened the Brook Mine outside Ranchester, Wyoming. The northern Wyoming deposit is a trove containing six of the 17 rare earth elements — called 'rare' not because they're scarce, but because extracting them from raw materials is so challenging. Ramaco CEO Randall Atkins says the site could supply the U.S. with rare earth materials for the next 150 years. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how 'We will be mining it here, we will be processing on this site, and we will sell it to domestic customers — and that will be our answer to China,' Atkins told FOX 5. Rare earth elements are used in everything from smartphones and electric vehicles to military systems and wind turbines. FOX noted that each F-35 stealth fighter — produced by Lockheed Martin — contains about 920 pounds of rare earth minerals. Currently, China mines around 70% of the world's rare earth supply and processes roughly 90% of it. In retaliation for President Donald Trump's tariffs, China halted exports of rare earth metals — exposing a critical supply chain vulnerability. U.S. Energy Secretary Chris Wright believes this new mine marks a turning point. 'Not only do we get coal here — we are going to get those rare earth elements that are going to break our dependence on China,' Wright told FOX News from the site. Soaring shares Ramaco shares have rallied strongly following the release of a full independent preliminary economic assessment of the Brook Mine, which confirmed the project is both commercially and technologically feasible. With the high-profile ribbon cutting, the market's enthusiasm has only intensified. The stock is up roughly 100% year to date. It's worth noting that Ramaco isn't a pure rare earth play. The company also operates and develops metallurgical coal assets — and officials remain optimistic about coal's role in the energy mix. 'Coal has been the biggest source of global electricity for over 120 years and it remains today by far the biggest source of global electricity,' Wright said at the announcement of the site. 'It will remain that way for the rest of our lifetimes. So, to believe that coal somehow is bad or somehow is going away is just nonsense and destructive nonsense.' If you're interested in exploring mining stocks like Ramaco — or want to diversify into other sectors driving America's resource independence — getting started has never been easier. With investing platforms like Robinhood, you can buy and sell stocks, ETFs and their options commission-free, track your portfolio in real time and get 24/7 access to customer service. For those starting small, the app also lets you buy fractional shares for as little as $1, making it easy to build a diversified portfolio without breaking the bank. Read more: Rich, young Americans are ditching the stormy stock market — A golden hedge While rare earths are critical to the technologies of tomorrow, gold — a precious metal rather than a rare earth — has served as a store of value for thousands of years. Today, the yellow metal remains as relevant as ever for a simple reason: Unlike fiat currencies, gold cannot be printed out of thin air by central banks. It's also long been viewed as a classic safe haven. Gold isn't tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher. Over the past 12 months, the price of the precious metal has surged by more than 35%. Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, recently highlighted gold's importance as part of a resilient portfolio. 'People don't have, typically, an adequate amount of gold in their portfolio,' he told CNBC. 'When bad times come, gold is a very effective diversifier.' One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an option for those looking to help shield their retirement funds against economic uncertainties. When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in precious metals for free. What to read next How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement 5 simple ways to grow rich with US real estate — without the headaches of being a landlord. Start now with as little as $10 This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. 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CTV News
11-07-2025
- Business
- CTV News
Wyoming's first new coal mine in decades to extract rare earths
Energy Secretary Chris Wright listens during a hearing of the Senate Committee on Energy and Natural Resources on Capitol Hill, June 18, 2025, in Washington. (AP Photo/Mark Schiefelbein) CHEYENNE, Wyo. — The developer of what would be the first new coal mine in Wyoming in decades is launching a potentially US$500,000,000 effort to extract rare earth metals from the fossil fuel that are crucial for tech products and military hardware. U.S. Energy Secretary Chris Wright, Wyoming Gov. Mark Gordon, and Wyoming's congressional delegation took part in a ribbon-cutting ceremony Friday for Ramaco Resources, Inc.'s Brook Mine outside Ranchester in northeastern Wyoming. 'Not only do we get coal here, we are going to get those rare earth elements that are going to break our dependence on China,' Wright told Fox News from the mine site Friday. Wright's involvement underscores U.S. President Donald Trump's determination to advance fossil fuel projects and mining and reverse former U.S. President Joe Biden's moves to support renewable energy. Administration officials on Monday moved toward selling federal coal leases in the top U.S. coal-producing region in northeastern Wyoming and southeastern Montana. On Thursday, officials announced a proposal in Utah that they said would be the first coal exploration project on U.S. Bureau of Land Management property since 2019. Those moves came on the heels of legislation signed last week that lowered royalty payments for companies mining coal on public lands and mandated officials make available for potential mining an area greater in size than Connecticut. Meanwhile, local officials in Utah hope the administration will support plans to build a railroad spur to boost oil drilling. A coalition of eastern Utah counties wants Trump's Transportation Department to approve US$2.4 billion in bonds for the 88-mile (140-kilometre) spur to export oil from the Uinta Basin, a project that may proceed after a U.S. Supreme Court ruling. On Friday, the minerals capturing the administration's attention were not just coal but rare earths — a family of 17 metallic elements with unusual properties that make them useful in modern technology, from electric car batteries and wind turbines to military targeting devices. The only operating U.S. rare earths mine is at Mountain Pass in California. Nearly all of the nation's supply comes from China, the source of nearly 90 per cent of the world's supply. Rare earths aren't especially rare but so scattered they are difficult to bring together in useful quantities. Concern about continued access to them has been a focus of recent negotiations between China and the U.S., and led the Trump administration to try to encourage more production domestically. 'We would intend to mine it here in Wyoming, process it here in Wyoming and sell it to domestic customers including the government,' Ramaco CEO Randall Atkins said Thursday. Former West Virginia Sen. Joe Manchin, a Democrat who left office in January after not seeking reelection, joined the Ramaco board in April. The new Brook Mine, though relatively small, offers a glimmer of optimism for Wyoming's coal industry as potentially the state's first new coal mine in 50 years. Massive, open-pit mines east of the Brook Mine supply around 40 per cent of the nation's coal but Wyoming coal mining has shrunk substantially since its peak over a decade ago, as utilities switch to renewable energy and power plants fueled by cheaper natural gas. 'Wyoming is moving to meet growing energy demands here at home and internationally — with the recognition that coal — Wyoming coal — is essential to healthy energy portfolios,' Gordon, a Republican, said in a statement after the Brook Mine event. The Brook Mine has been in the works for over a decade, stalled in part by landowners worried about groundwater depletion. Atkins originally envisioned it as a source of subbituminous power plant fuel like the state's other coal mines. A public company with metallurgical coal mines in Appalachia, Ramaco in recent years received U.S. Department of Energy grants to develop coal into carbon-based products such as carbon fiber. This year, it got a US$6.1 million grant from Wyoming to build a rare earth and critical minerals processing plant. A consultant report released this week found that fully developing the mine and processing plant to extract rare earths would cost US$533 million, a sum that could be recovered in five years if the elements in the coal prove profitable. Ramaco also would sell the processed coal as fuel, Atkins said. Analysis by U.S. national laboratories show the Brook Mine coal contains valuable quantities of the rare earths neodymium, praseodymium, dysprosium and terbium, as well as the critical minerals gallium, scandium and germanium, according to a Ramaco letter to shareholders on July 1. Neodymium and dysprosium are used in the permanent magnets of wind turbines, lanthanum in electric and hybrid car batteries. Yttrium and terbium have critical military uses, including in targeting devices. Mead Gruver, The Associated Press
Yahoo
11-07-2025
- Business
- Yahoo
Wyoming's first new coal mine in decades to extract rare earths
CHEYENNE, Wyo. (AP) — The developer of what would be the first new coal mine in Wyoming in decades plans to process the fossil fuel to extract hard-to-get metals that are crucial for tech products and military hardware. Energy Secretary Chris Wright, former West Virginia U.S. Sen. Joe Manchin, Wyoming Gov. Mark Gordon, and Wyoming's congressional delegation are on the VIP list for a groundbreaking ceremony Friday at the Ramaco Resources, Inc., Brook Mine outside Ranchester in far northern Wyoming. Rare earth elements are a family of 17 metallic elements with unusual properties that make them useful for specific applications. Neodymium and dysprosium are used in the permanent magnets of wind turbines, lanthanum in electric and hybrid car batteries. Yttrium and terbium have critical military uses, including in targeting devices. China supplies almost 90% of the world's rare earths. Concern about continued access to the substances has been a focus of recent negotiations between China and the U.S., and led the Trump administration to try to encourage more production domestically. Rare earths aren't especially rare but so scattered they are difficult to bring together in useful quantities. Currently the only U.S. rare earths mine is at Mountain Pass in California. Analysis by U.S. national laboratories show the Brook Mine coal contains valuable quantities of the rare earths neodymium, praseodymium, dysprosium and terbium, as well as the critical minerals gallium, scandium and germanium, according to a Ramaco letter to shareholders on July 1. 'We would intend to mine it here in Wyoming, process it here in Wyoming and sell it to domestic customers including the government,' Ramaco CEO Randall Atkins said Thursday. Manchin, who left office in January after not seeking re-election, joined the Ramaco board in April. No new Wyoming coal mine has opened in 50 years. Wyoming's coal industry instead has shrunk substantially since its peak over a decade ago, troubled as utilities switch to renewable energy and power plants fueled by cheaper natural gas. The Brook Mine, stalled in part by landowners worried about groundwater depletion, has been in the works for over a decade. Atkins originally envisioned it as a source of subbituminous power plant fuel, much like Wyoming's massive open-pit mines that supply about 40% of the nation's coal. A public company with metallurgical coal mines in Appalachia, Ramaco in recent years received Department of Energy grants to develop coal into carbon-based products such as carbon fiber. This year, it got a $6.1 million grant from Wyoming to build a rare earth and critical minerals processing plant. A consultant report released this week found that fully developing the mine and processing plant would cost around $500 million, a sum that could be recovered in five years if the rare earths can be extracted and sold. Ramaco also would sell the processed coal as fuel, Atkins said. Sign in to access your portfolio
Associated Press
11-07-2025
- Business
- Associated Press
Wyoming's first new coal mine in decades to extract rare earths
CHEYENNE, Wyo. (AP) — The developer of what would be the first new coal mine in Wyoming in decades plans to process the fossil fuel to extract hard-to-get metals that are crucial for tech products and military hardware. Energy Secretary Chris Wright, former West Virginia U.S. Sen. Joe Manchin, Wyoming Gov. Mark Gordon, and Wyoming's congressional delegation are on the VIP list for a groundbreaking ceremony Friday at the Ramaco Resources, Inc., Brook Mine outside Ranchester in far northern Wyoming. Rare earth elements are a family of 17 metallic elements with unusual properties that make them useful for specific applications. Neodymium and dysprosium are used in the permanent magnets of wind turbines, lanthanum in electric and hybrid car batteries. Yttrium and terbium have critical military uses, including in targeting devices. China supplies almost 90% of the world's rare earths. Concern about continued access to the substances has been a focus of recent negotiations between China and the U.S., and led the Trump administration to try to encourage more production domestically. Rare earths aren't especially rare but so scattered they are difficult to bring together in useful quantities. Currently the only U.S. rare earths mine is at Mountain Pass in California. Analysis by U.S. national laboratories show the Brook Mine coal contains valuable quantities of the rare earths neodymium, praseodymium, dysprosium and terbium, as well as the critical minerals gallium, scandium and germanium, according to a Ramaco letter to shareholders on July 1. 'We would intend to mine it here in Wyoming, process it here in Wyoming and sell it to domestic customers including the government,' Ramaco CEO Randall Atkins said Thursday. Manchin, who left office in January after not seeking re-election, joined the Ramaco board in April. No new Wyoming coal mine has opened in 50 years. Wyoming's coal industry instead has shrunk substantially since its peak over a decade ago, troubled as utilities switch to renewable energy and power plants fueled by cheaper natural gas. The Brook Mine, stalled in part by landowners worried about groundwater depletion, has been in the works for over a decade. Atkins originally envisioned it as a source of subbituminous power plant fuel, much like Wyoming's massive open-pit mines that supply about 40% of the nation's coal. A public company with metallurgical coal mines in Appalachia, Ramaco in recent years received Department of Energy grants to develop coal into carbon-based products such as carbon fiber. This year, it got a $6.1 million grant from Wyoming to build a rare earth and critical minerals processing plant. A consultant report released this week found that fully developing the mine and processing plant would cost around $500 million, a sum that could be recovered in five years if the rare earths can be extracted and sold. Ramaco also would sell the processed coal as fuel, Atkins said.
Yahoo
10-07-2025
- Business
- Yahoo
Massive rare earths elements deposit confirmed in Wyoming
In a groundbreaking moment for the American mining industry, the Fluor Corporation has confirmed the feasibility of large rare earth element deposits at Ramaco Resources' Brook Mine in Wyoming. This announcement marks a significant step towards redefining the United States' position in the critical minerals market. The confirmation by Fluor not only solidifies the economic potential of the Brook Mine but also positions Ramaco Resources as a key player in reducing the country's dependency on foreign sources of rare earth elements. Ramaco Resources, initially known for its operations as a metallurgical coal miner, was thrust into the spotlight with this unexpected discovery. The company, headquartered in Lexington, Kentucky, had been primarily focused on coal mining in Appalachia. The Brook Mine project represents a strategic pivot for Ramaco, leveraging its mining expertise to tap into the lucrative rare earth element market. According to the Preliminary Economic Assessment (PEA) conducted by Fluor Corporation, the rare earth deposits at Brook Mine are not only abundant but also economically viable. The PEA outlines a robust financial outlook, with a net present value (NPV) of $1.197 billion at an 8% discount rate and an internal rate of return (IRR) of 38% pre-tax. The report projects that the mine will produce 1,242 tons annually of oxides, including high-value minerals such as dysprosium, neodymium, and scandium, which are critical to various advanced technologies. Specifically, dysprosium and neodymium have unusual magnetic properties that make them perfect for high-performance magnets in electric vehicles and various electronics, while scandium's most important applications involve its use as an alloy for aluminum. The economic significance of these discoveries cannot be overstated. Rare earth elements are integral to modern technology, playing a crucial role in the manufacturing of everything from electric vehicles and wind turbines to sophisticated military systems. Historically, the United States has relied heavily on imports, particularly from China, to meet its demand for these minerals. The Brook Mine's potential to support 3-5% of the U.S.'s total permanent magnet demand is a crucial development in shifting the nation's supply chain dynamics. Aside from economic viability, the strategic implications are profound. Rare earth elements have long been a strategic lever for China, which controls roughly 85% of global production. China's dominance in the market has allowed it to wield significant influence, at times restricting exports as a tool in trade negotiations. This dependency has underscored the urgency for the U.S. to establish a secure, domestic supply of these critical materials. Ramaco's leadership has recognized the strategic and national security dimensions of their project. Randall Atkins, the Chairman and CEO of Ramaco Resources, emphasized the importance of the Brook Mine discovery not only for the company but also for the nation. With plans to develop processing facilities capable of handling these rare earth elements domestically, Ramaco aims to foster a vertically integrated supply chain, addressing both extraction and processing within the United States. The transition from a coal-centric operation to a rare earth element powerhouse reflects broader shifts in the global energy landscape. As the demand for cleaner, sustainable energy solutions grows, the need for rare earth elements will only increase. The Brook Mine discovery positions Ramaco at the forefront of this evolution, offering significant economic rewards while contributing to national security. As Ramaco Resources continues to develop the Brook Mine, the focus will be on optimizing extraction processes and scaling up operations to meet projected demand. The backing from Fluor Corporation, an internationally renowned engineering firm, provides additional credibility and support to Ramaco's ambitious plans. The discovery and subsequent validation of rare earth elements at the Brook Mine is a landmark event for Ramaco Resources and American industry at large. By establishing a domestic supply chain for these essential materials, the United States not only reduces its reliance on foreign sources but also strengthens its strategic autonomy. The post Massive rare earths elements deposit confirmed in Wyoming appeared first on FreightWaves.
