2025-07-02
Ramaco Resources has recently received a positive preliminary economic assessment from Fluor Corporation, confirming the commercial and technical feasibility of its Brook Mine rare earth deposit. The project has a pre-tax net present value of $1.197 billion, a net present value of $898 million, and an internal rate of return of 38%. When fully operational, the mine will produce 1.242 short tons of rare earth oxides per year, including 456 tons of valuable elements such as gallium, germanium, scandium and rare earth elements.
The Brook deposit is considered the largest unconventional coal-measure rare earth element deposit in the United States, with unique geological characteristics, extremely low content of radioactive elements, and simplified processing requirements. The initial mine life of the project is 42 years, and the utilization is less than 4% of the estimated total mineral reserves. It will become one of the only two rare earth element producing areas in the United States and the only source of heavy rare earth elements, and is expected to meet 30% of the United States’ defense permanent magnet application needs. A pilot plant is scheduled to be fully operational by mid-2026.
