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A newly released independent interim techno-economic report by Fluor has revealed that Ramaco Resources<\/a>\u2019 Brook mine in Wyoming \u2013 acquired as a coal operation but found to be prolific for rare earth elements \u2013 is both commercially and technically feasible.<\/p>\n\n\n\n Ramaco is hoping to extract valuable rare earth elements (REEs) and critical minerals from unconventional coal and carbonaceous ore deposits contained at the mine near Sheridan, which has been called one of the largest unconventional deposits of these elements in the world by the U.S. Department of Energy’s National Energy Technology Laboratory (NETL).<\/p>\n\n\n\n The project would be the only primary source in the world for gallium, germanium, and scandium.<\/p>\n\n\n\n Substantial metallurgical and chemical testing of the deposit by independent third-party laboratories has been performed and is ongoing; it is targeting Q1 2025 for completion of that work. Fluor will then complete its final preliminary techno-economic report and data analysis that same quarter, after which a full scoping study will begin in Q2.<\/p>\n\n\n\n From the interim preliminary analysis, subject to receipt and analysis of complete testing results and data, Fluor has concluded that Brook is both technologically and commercially feasible.<\/p>\n\n\n\n Also on the schedule for next year: Ramaco\u2019s work alongside Fluor to evaluate planning and design of a commercial pilot plant. Construction is on track to begin in the second half of 2025.<\/p>\n\n\n\n \u201cThis initial report marks an important milestone in Ramaco’s pursuit of making the development of its Brook Mine deposit into a far-reaching critical materials commercial business. Yet much work still remains on this potentially transformational road for us,\u201d said Randall Atkins, chairman and CEO. \u201cImportantly, this analysis from a recognized independent firm validates our continued pursuit of the development of this potentially valuable and nationally strategic deposit.<\/p>\n<\/blockquote>\n\n\n\n \u201cWe envision that the full commercial, technical and economic contours of this project will evolve over the next several months with the release of the final techno-economic report and then the scoping study. This spring, we will be expanding further coal mining and initiating process development of the project. We will continue to provide regular updates to our investors as we transition forward in the creation of our emerging rare earth and critical mineral business.\u201d<\/p>\n\n\n\n On December 2, gallium and germanium were banned for export to the United States by China, which controls approximately 95% and 60%, respectively, of these critical materials used globally.<\/p>\n\n\n\n Source: <\/em>Ramaco Resources<\/em><\/a><\/p>\n\n\n\n\n