Core Viewpoint - Mulberry Industries and Ramaco Resources have entered into a non-binding memorandum of understanding (MOU) to negotiate an offtake partnership aimed at enhancing the domestic supply chain for rare earth elements and permanent magnets in the U.S. [1][4] Group 1: Company Developments - Ramaco Resources is developing critical minerals and rare earth elements at its Brook mine in Wyoming, which is believed to hold the largest unconventional deposit of these resources in the nation sourced from coal and carbonaceous ore [2]. - The Brook mine is the first new rare earth element and critical mineral mine in the U.S. in over 70 years, focusing initially on the production of commercial oxides, with full-scale mining and a pilot processing facility currently under construction [3][7]. - Ramaco received a second five-year land use approval from the Wyoming Department of Environmental Quality and has released preliminary economic assessment results for the mine [3]. Group 2: Partnership Details - Under the MOU, Ramaco Resources will negotiate to supply Mulberry Industries with customized oxide blends containing rare earth elements such as samarium, NdPr, yttrium, gallium, and Dy/Tb on a non-exclusive basis [4]. - Mulberry Industries plans to use this domestic feedstock to enhance its existing 10-year rare earth stockpile for manufacturing advanced permanent magnets for various industries, including defense, aerospace, automotive, and robotics [4][5]. Group 3: Strategic Importance - The partnership is seen as a way to diversify rare earth sourcing for Mulberry Industries, ensuring long-term supply chain independence and enhancing economic and national security for the U.S. [5]. - Mulberry Industries produces vital permanent magnets, including neodymium-iron (NdFeB), samarium-cobalt (SmCo), and aluminum-nickel-cobalt (AlNiCo), which are essential for advanced technologies and defense applications [5]. - Ramaco Resources emphasizes the importance of establishing a resilient, ex-China permanent magnet supply chain to support U.S. innovators and ensure reliable feedstock for advanced magnet manufacturing [6][7].

Core Viewpoint - Mulberry Industries and Ramaco Resources have entered into a non-binding memorandum of understanding to negotiate a partnership aimed at enhancing the domestic supply chain for rare earth elements and permanent magnets in the United States [1][6]. Group 1: Partnership Details - The MOU allows Ramaco Resources to negotiate a non-exclusive agreement to supply customized oxide blends containing rare earth elements such as samarium, NdPr, yttrium, gallium, and Dy/Tb to Mulberry Industries [2]. - Mulberry Industries plans to utilize this domestic feedstock to strengthen its existing 10-year rare earth stockpile for manufacturing advanced permanent magnets for various industries including defense, aerospace, automotive, and robotics [2][3]. Group 2: Strategic Importance - The partnership is intended to diversify rare earth sourcing for Mulberry Industries, ensuring long-term supply chain independence from China, which currently dominates rare earth mining and refining [3][6]. - The collaboration aims to establish a secure supply chain for permanent magnets within the U.S., thereby enhancing both economic and national security [3]. Group 3: Company Profiles - Mulberry Industries is a vertically integrated manufacturer of high-performance permanent magnets and advanced electrical systems, recognized as America's only end-to-end permanent magnet manufacturer [7]. - Ramaco Resources is a dual platform critical mineral company engaged in the production of metallurgical coal and the development of rare earth and critical minerals, with operations in Wyoming and West Virginia [8]. Group 4: Technological Advancements - Mulberry Industries has reported a 60% more streamlined production flow compared to industry peers, utilizing proprietary fifth-generation Grain Boundary Diffusion technology that reduces the use of costly heavy rare earths by 30% to 80% [4]. - This technology results in lighter and more powerful magnets suitable for demanding applications in aerospace and defense [4]. Group 5: Mining Developments - Ramaco Resources' Brook Mine in Wyoming is the first new rare earth element and critical mineral mine in the U.S. in over seventy years, focusing on the production of commercial oxides [5]. - Full-scale mining and the construction of a pilot processing facility are currently underway at the Brook Mine [5].