Permanent magnet manufacturer Mulberry Industries and miner Ramaco Resources have entered into a non-binding memorandum of understanding to negotiate an offtake partnership that will bolster America’s domestic rare earth and permanent magnet supply chain.
Under the MoU, Ramaco will negotiate an agreement to provide Mulberry, on a non-exclusive basis, with customized oxide blends containing the rare earth elements samarium, NdPr, yttrium, gallium, and Dy/Tb. Mulberry will use this domestic feedstock to strengthen its existing 10-year rare earth stockpile for manufacturing advanced permanent magnets at its facility in Georgia.
“Ramaco is proud to pursue a partnership with Mulberry Industries to supply domestically sourced rare earth oxide blends that underpin a resilient, ex-China permanent magnet supply chain,” said Randall Atkins, chairman and CEO of Ramaco Resources.
“With mining at the Brook mine in Wyoming commencing earlier this year and construction of a pilot plant now underway, we will be positioned to deliver reliable feedstock tailored to Mulberry’s advanced magnet manufacturing. Together, we seek to build a durable, transparent supply chain that helps U.S. innovators scale with confidence for the decade ahead.”
This potential partnership aims to reduce the United States’ reliance on China, which currently controls most rare earth mining and over 90% of refining, metallization and magnet manufacturing.
Source: Ramaco Resources