Posted on 07 Jul 2025
Ramaco Resources says it will soon break ground on what it claims is the first new rare earth mine in the US in more than 70 years.
The Brook mine, located in Wyoming, is expected to produce 2 million tonnes/year of coal and 1,242 t/y of total rare earth oxide (REO). This includes 254 t of neodymium-praseodymium (NdPr), which is used to produce permanent magnets. The Kentucky-based miner projects that it can support 3-5% of total US permanent magnet demand, reaching a steady state of production in 2028.
The project is estimated to require a capital investment of $579m, and another $235m annually to operate, across a mine life of 42 years. Its rare earth output is estimated to generate $374m in annual revenue, Kallanish learns.
Construction of an onsite pilot plant for product development is planned to start in Q4. Samples will be shipped to potential customers for testing from mid-2026.
Ramaco initially developed Brook as a coal mine, then pivoted the focus to rare earths after an unexpected discovery. Last year, the US produced 45,000 t of REO equivalent at its only active rare earths mine, MP Materials’ Mountain Pass project in California.
The country currently depends on imports for 80% of its rare earth compounds and metals needs, according to the US Geological Survey. China, which dominates the global supply chain both upstream and midstream, earlier this year blocked rare earth exports to US buyers amid a trade war between the two countries.
Rare earths were at the heart of a trade deal that Beijing and Washington signed last week. The automotive industry had warned of major disruptions in the case of a rare earth supply shortage.
Source:Kallanish
