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Ramaco Resources, Inc. (NASDAQ: METC, METCB) ("Ramaco" or the "Company") Ramaco is proud to announce that initial mobilization and site development activities have commenced for its new pilot processing plant and laboratory, located adjacent to the Brook Mine and near the iCAM Research Center outside Sheridan, Wyoming. This milestone marks a significant step forward in the company's strategic initiative to establish a vertically integrated, U.S.-based supply chain for rare earth elements (REEs) and other critical minerals.
The facility is designed to demonstrate the technical and economic feasibility of converting domestic carbonaceous ore into high-purity individual rare earth oxides (IREOs), which are essential for U.S. magnet production and other advanced technologies. The pilot plant is intended to serve as a bridge to full-scale commercialization, with plans already underway for a commercial oxide processing facility.
Ramaco had earlier announced a $6.1 million matching grant from the Wyoming Energy Authority's Energy Matching Fund to support the development of the pilot facility. This grant is part of a state initiative to promote energy innovation and economic development. The company has successfully cleared all necessary zoning and environmental permits for the establishment of the pilot processing plant and laboratory on the site.
The pilot facility is expected to focus on processing both rare earths and critical materials recently restricted from export by China underscoring the strategic importance of domestic production. Analyses performed to date indicate that the Brook Mine deposit, located along the northwestern margin of the Powder River Basin, is geologically unique and enriched with rare earths through secondary mobilization, making it one of the most promising potential sources for rare earths in the United States.
Randall W. Atkins, Chairman and CEO of Ramaco Resources stated "We believe this groundbreaking marks the beginning of a new chapter in American rare earth minerals. Our goal is to build the foundation for a secure, domestic supply of rare earths and critical minerals and ensure that the U.S. remains competitive in the technologies that define our future."
On July 11, 2025, Ramaco hosted a landmark ribbon-cutting and groundbreaking ceremony marking the official opening of the Brook Mine—the first new rare earth mine in the United States in over 70 years and the first new coal mine in Wyoming in more than 50 years. The event, themed "American Independence: A Rare Earth Revolution," celebrated the beginning of mining operations. Attended by dignitaries including U.S. Secretary of Energy Chris Wright, Governor Mark Gordon, Senator John Barrasso, Senator Cynthia Lummis and Representative Harriet Hageman, the ceremony highlighted Ramaco's strategic role in advancing domestic critical mineral production.
Ramaco continues to advance mining and geological work, including infill and expansion drilling, to refine its resource classification and support future mine planning and processing capabilities.
ABOUT RAMACO RESOURCES
Ramaco Resources, Inc. is an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia, and southwestern Virginia and a developing producer of coal, rare earth and critical minerals in Wyoming. Its executive offices are in Lexington, Kentucky, with operational offices in Charleston, West Virginia and Sheridan, Wyoming. The Company currently has four active metallurgical coal mining complexes in Central Appalachia and one development rare earth and coal mine near Sheridan, Wyoming in the initial stages of production. In 2023, the Company announced that a major deposit of primary magnetic rare earths and critical minerals was discovered at its mine near Sheridan, Wyoming. Contiguous to the Wyoming mine, the Company operates a carbon research and pilot facility related to the production of advanced carbon products and materials from coal. In connection with these activities, it holds a body of roughly 76 intellectual property patents, pending applications, exclusive licensing agreements and various trademarks. News and additional information about Ramaco Resources, including filings with the Securities and Exchange Commission, are available at https://www.ramacoresources.com. For more information, contact investor relations at (859) 244-7455.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, our expectations regarding our ability to develop rare earth mineral reserves and successfully develop the Brook Mine into a commercially viable producing mine. These forward-looking statements represent Ramaco Resources' expectations or beliefs concerning guidance, future events, anticipated revenue, future demand and production levels, macroeconomic trends, the development of ongoing projects, costs and expectations regarding operating results, and it is possible that the results described in this news release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Ramaco Resources' control, which could cause actual results to differ materially from the results discussed in the forward-looking statements. These factors include, without limitation, unexpected delays in our current mine development activities, the ability to successfully ramp up production at our complexes in accordance with the Company's growth initiatives, failure of our sales commitment counterparties to perform, increased government regulation of coal in the United States or internationally, the impact of tariffs imposed by the United States and foreign governments, the further decline of demand for coal in export markets and underperformance of the railroads, the Company's ability to successfully develop the Brook Mine REE/CM project, including whether the Company's exploration target and estimates for such mine are realized, the timing of the initial production of rare earth concentrates, the development of a pilot and ultimately a full scale commercial processing facility. Mineral resources are not mineral reserves and do not meet the threshold for reserve modifying factors, such as estimated economic viability, that would allow for conversion to mineral reserves. There is no certainty that any part of the estimated mineral resources at Brook Mine will be converted into mineral reserves in the future. Rare earth and critical minerals is a new initiative for us and, as such, has required and will continue to require us to make significant investments to build out our rare earth capabilities. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Ramaco Resources does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Ramaco Resources to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements found in Ramaco Resources' filings with the Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The risk factors and other factors noted in Ramaco Resources' SEC filings could cause its actual results to differ materially from those contained in any forward-looking statement.
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SOURCE Ramaco Resources, Inc.
