Ramaco Resources Inc Class A (NASDAQ: METC) (FRA: 5R02) has had a pivotal month.
On Jul. 11, the Wyoming mining company held a grand opening ceremony at the first American rare earths mine to open in over 70 years. It is also the first new coal mining operation in the Cowboy State of Wyoming in over five decades.
Following the the ceremony, attended by influential figures like state Governor Mark Gordon and Department of Energy Secretary Chris Wright, Ramaco revealed that it has received a second five-year mining permit approval from the Wyoming Department of Environmental Quality.
Announced Tuesday, the latest permit solidifies the company’s long-term operational outlook by extending Ramaco’s authorizations at the Brook mine site for the latter half of a decade.
It builds on an initial permit, secured in mid-2020, that authorized the inaugural phases of the mine’s development and coal extraction. In 2023, over mid-way through the five-year period leading up to the renewal, Ramaco discovered robust magnetic rare earths resources at the site.
Rare earth elements being extracted at Brook that are essential for magnets, like neodymium and praseodymium, are among the world’s most sought after commodities at the moment due to stringent Chinese export controls currently in place. The Trump Administration’s decision to sign executive orders expediting domestic mining projects earlier this year in response has been beneficial for Ramaco.
“The ability to domestically mine and refine rare earths and critical minerals contained in the carbonaceous ore of the Brook Mine represents a strategic milestone in the nation’s efforts to reduce foreign reliance on critical minerals essential to defence, technology, and clean energy,” Ramaco specified in its press release regarding the new permit on Jul. 29.
In other recent and related news, Ramaco received a US$6.1-million-dollar grant for the operation’s rare earths processing plant from the Wyoming Energy Authority in March. This followed Ramaco selecting Fluor Corp (NYSE: FLR) (FRA: FLU) to engineer and construct the processing complex in 2024.
“The recent discovery that our state’s rich coal resources also contain the rare earth and critical minerals our country so desperately needs now puts Wyoming at the centre of delivering on our nation’s energy and national security requirements,” said CEO Randall Atkins in a March release regarding the grant.
Construction of the plant will commence this fall. Despite obtaining a sizeable award, approved by Governor Gordon, it will cost approximately US$533 million to build. This processing complex is expected to be fully operational by 2027. Full-scale coal production began at the site last month.
California’s Mountain Pass mine is the only other domestic rare earths production asset in the country. Brook is estimated to contain 1.7 million tons of rare earth oxides and will be capable of supplying up to 5 per cent of U.S. permanent magnet demand.
It was great visiting with @SecretaryWright at the Brook Mine grand opening. We talked about the nation's growing power demands in the next 20 years, and the potential for Wyoming coal and rare earth minerals to expand our state's economy while strengthening national security. pic.twitter.com/192drI08QR
— Governor Mark Gordon (@GovernorGordon) July 12, 2025
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