Mentioned:
Ramaco Resources owns one of the largest unconventional rare earth projects in America. And now, they’ve just struck a new deal with REalloys.
What’s happening:
- REalloys (NASDAQ: ALOY) has entered into a new agreement with Ramaco Resources (NASDAQ: METC) for the supply of mixed rare earth carbonate and scandium oxide
Why it matters:
- Ramaco Resources owns the Brook Mine located in Wyoming which contains a large deposit of rare earth elements that are hosted in coal and other carbonaceous ore and is widely considered to be one of the largest unconventional rare earth deposits in the United States
Going deeper:
- REalloys and Ramaco Resources have both publicly stated they will jointly pursue metallurgical testing, product validation and commercial analysis to determine the viability of using mixed rare earth carbonate from Ramaco Resources’ Brook Mine in REalloys’ downstream refining and magnet manufacturing platform
- Critical Metals (NASDAQ: CRML) and REalloys just recently made waves on Wall Street when they entered into a definitive agreement in which Critical Metals will supply REalloys with 15% of their total rare earth feedstock production from their Greenland based Tanbreez project
The intrigue:
- Ramaco Resources previously landed a $6.1M USD matching grant from the Wyoming Energy Authority to advance their Brook Mine for rare earth elements
The fine print:
- REalloys’ agreement with Ramaco Resources is non-binding and the specific commercial terms of the deal have not yet been publicly disclosed
