Rare Earth and Critical Minerals Mining

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Ramaco Releases Summary of Independent Preliminary Economic Assessment Report from Fluor Corporation
Prnewswire· 2025-07-10 21:00
Core Insights - Ramaco Resources, Inc. has released a summary of the independent Preliminary Economic Assessment (PEA) for its Brook Mine, prepared by Fluor Corporation, indicating the mine's commercial and technological feasibility [1][2] - The company is optimistic about the future, with a ribbon-cutting ceremony for the Brook Mine scheduled, marking a significant milestone for both Ramaco and the nation [2] Company Overview - Ramaco Resources, Inc. operates and develops high-quality, low-cost metallurgical coal in southern West Virginia and southwestern Virginia, and is also involved in coal, rare earth, and critical minerals production in Wyoming [3] - The company has four active metallurgical coal mining complexes in Central Appalachia and is in the initial stages of production for a coal mine and rare earth development in Wyoming [3] - In 2023, Ramaco discovered a major deposit of primary magnetic rare earths and critical minerals at its Wyoming mine, and operates a carbon research facility related to advanced carbon products from coal [3] Future Prospects - The results of the PEA suggest that the Brook Mine will contribute positively to the company's growth and operational capabilities, aligning with its strategic objectives in the coal and rare earth sectors [2][3]
Independent Preliminary Economic Assessment Report from Fluor Corporation Confirms Commercial and Technical Feasibility of Ramaco's Brook Mine Rare Earth Deposit
Prnewswire· 2025-07-01 12:00
Core Insights - The Fluor Corporation will deliver a full Preliminary Economic Assessment (PEA) of Ramaco Resources' Brook Mine by July 8, 2025, indicating a significant advancement in the project [1][2] - The Brook Mine is believed to contain the largest unconventional deposit of rare earth elements and critical minerals sourced from coal, which is commercially and technologically feasible [2][4] Economic Viability - The updated PEA confirms the viability of the Brook Mine project, validating Ramaco's development strategy and providing momentum for future phases [4] - The PEA outlines a net present value (NPV) of $1.197 billion at an 8% discount rate and $898 million at a 10% discount rate, with an internal rate of return (IRR) of 38% and an initial capital cost estimate of $473 million [8][15] Production and Revenue Projections - The project anticipates an adjusted EBITDA of $134 million by 2028, reaching $143 million by 2029, with annual revenue projected at $378 million [8][15] - The Brook Mine is expected to produce 1,242 short tons of rare earth oxides annually, including 456 tons of various critical minerals [11][12] Cost Structure - The total initial capital cost is estimated at $579 million, including a 22% contingency [9] - Annual steady-state costs are projected at $235 million, with mining costs at $27 million and processing costs at $195 million [12][15] Unique Geological Profile - The Brook Mine's geological profile allows for a more efficient extraction process with lower capital intensity compared to traditional hard rock mining, significantly reducing operational complexity and costs [5][6] Strategic Importance - The Brook Mine will be one of only two domestic sources of rare earth elements and the only source of heavy rare earth elements and critical minerals vital for the U.S. defense industry [18][19] - The mine is projected to support 3-5% of total U.S. permanent magnet demand and over 30% of the demand for U.S. defense applications [18] Development Timeline - Initial mining activities have commenced to procure ore for pilot-scale testing, with a pilot plant expected to be operational by mid-2026 [16]