Ramaco Resources’ board approved the development of the US’ first national stockpile of rare earth elements (REEs) and critical minerals at its Brook Mine in Wyoming. The strategic critical minerals terminal (SCMT) aims to provide secure access to these materials for private and public sectors, addressing national needs. The project will enhance the domestic supply chain and ensure consistent access to strategic materials. Ramaco plans to process its own materials and provide tolling services for third-party producers, managing inventory for safety and market availability. The Brook Mine has direct access to transportation infrastructure for efficient distribution. Ramaco aims to increase annual rare earth and critical mineral oxide production significantly, aligning with its goal to boost coal output. The company’s efforts will enhance the US critical minerals supply chain, promoting national security and innovation in the rare earths sector. In August, Ramaco completed a public offering of class A common stock, raising approximately $200m.

Read more at Yahoo Finance: Ramaco backs US critical minerals stockpile at Brook Mine