Independent Interim Report Confirms Commercial and Technical Feasibility of Ramaco's Brook Mine Rare Earth Deposit

Core Insights - Ramaco Resources is developing the Brook Mine, which is projected to be the only primary source mine for gallium, germanium, and scandium in the world [1][2][3] - Fluor Corporation's preliminary techno-economic analysis indicates that the Brook Mine project is both commercially and technologically feasible [1][2][3] - The mine contains one of the largest unconventional deposits of rare earth elements and critical minerals sourced from coal and carbonaceous ore, as recognized by the U.S. Department of Energy's NETL [2][3] Economic Projections - Preliminary financial modeling suggests strong economics and financial returns, even with lower capital investment compared to traditional hard rock REE mines [2][4] - Scandium, gallium, and germanium oxides are expected to account for approximately 70% of potential revenue, with these elements and magnetic rare earth elements constituting over 95% of potential revenue [2][3] Development Plans - Ongoing substantial metallurgical and chemical testing is expected to be finalized in Q1 2025, with a full scoping study anticipated in Q2 2025 [2][3] - The company plans to high-grade the extraction process to focus on higher value oxide products [2][4] - Construction of a commercial pilot plant is on track to begin in the second half of 2025 [2][5] Strategic Importance - The Brook Mine's unique characteristics, such as being non-radioactive and easier to process, minimize energy-intensive processes typically associated with hard rock mining [3][4] - The recent export ban by China on gallium and germanium, which are critical materials, highlights the strategic importance of the Brook Mine [2][3] Company Overview - Ramaco Resources operates in southern West Virginia and southwestern Virginia, focusing on high-quality metallurgical coal and developing rare earth and critical minerals in Wyoming [6] - The company has four active metallurgical coal mining complexes and is in the initial stages of production for coal and rare earth development near Sheridan, Wyoming [6]