Ramaco's Brook Mine Project Shows Billion-Dollar Potential For US Rare Earths

Small,Pile,Of,Minerals,Extracted,In,A,Rare,Earth,Mine

Ramaco Resources (NASDAQ:METC) announced Tuesday that a preliminary economic assessment (PEA) conducted by Fluor Corporation (NYSE:FLR) found its Brook mine project in Wyoming to be both commercially and technologically viable, with a potential pre-tax net present value (NPV) of up to $1.2 billion.

“This report marks an important milestone in Ramaco’s transition to become both a rare earth and critical mineral, as well as a metallurgical coal producer,” Randall Atkins, Ramaco’s Chairman and CEO, said in the press release. “The development of our Brook mine deposit is important not only to Ramaco but also to our country.”