Ramaco Resources has entered into a non-binding memorandum of understanding with REalloys Inc., an Ohio-based rare earth company, to establish a strategic relationship intended to bolster the United States’ domestic rare earth and permanent magnet supply chain.
“Ramaco is proud to pursue a future partnership with REalloys to supply domestically sourced mixed rare earth carbonates and scandium oxide that could underpin a resilient, ex-China permanent magnet supply chain,” said Ramaco Resources Chairman and CEO Randall Atkins.
“We are progressing to position the Brook mine to potentially deliver both reliable MREC feedstock tailored to REalloys’ SRC separation facilities as well as our own scandium oxide for REalloys’ metallization process.”
Under the memorandum, Ramaco would supply REalloys with mixed rare earth carbonate (MREC) from its Brook mine project near Sheridan, Wyo. REalloys would then separate the feedstock into various rare earth oxides at its Saskatchewan Research Council facility. In addition, Ramaco would provide its own separated scandium oxide from its Brook critical mineral refinery for alloy metallization at REalloys’ Euclid, Ohio, facility.
“Ramaco is advancing one of the most innovative coal-hosted critical mineral initiatives in the United States, and we believe their Brook mine platform could become an important future domestic source of heavy rare earths and other strategic materials,” said Leonard Strenheim, REalloys CEO.
“As REalloys advances plans for large-scale downstream refining and metallization capacity in the United States, we intend to work with Ramaco to enter into definitive documents in connection with this MOU, as partnerships such as this become increasingly important to establishing resilient domestic supply chains for strategic materials.”
The MoU also establishes a framework under which REalloys may secure supply rights for up to 20% of Ramaco’s future MREC and critical materials production.
Beyond the Brook mine project, Ramaco also operates four mine complexes and processing facilities in West Virginia and Virginia.
Sources: Ramaco Resources and REalloys