Ramaco Resources said on Monday it plans to establish what it called the first U.S. stockpile of rare earth elements and critical minerals in Wyoming, in a move to bolster domestic raw material supply for defense and clean-energy industries.
China currently dominates the rare earth elements and critical minerals sector, processing more than 90% of the world’s supply.
Ramaco said its Brook Mine site in Wyoming is one of the world’s few primary sources of scandium, gallium and germanium, spanning 15,800 acres with 4,500 already permitted.
The “Strategic Critical Minerals Terminal” will be developed in partnership with a leading commodity structuring and financial advisor, Ramaco said.
The facility will serve as a central hub for stockpiling, processing and storing key minerals including scandium, gallium, germanium, neodymium and dysprosium, essential for magnets, electric vehicles and military systems.
(Reporting by Mathur in Bengaluru; Editing by Shreya Biswas)
Topics USA
Was this article valuable?
Here are more articles you may enjoy.
WTW Sues Former Yacht Team, Howden US Over Defection 
Tankers Exit Strait of Hormuz With 6 Million Barrels of Crude Oil 
‘Decisive Sign of a Softened Market’: Premiums Decrease Across All Accounts 
The Big Dog Is Off the Tech Porch: State Farm as ‘Next Gen Good Neighbor’ 
