Ramaco Resources signs five-year research pact with DOE lab

Ramaco Resources Inc. (NASDAQ: METC) entered into a cooperative research and development agreement with the U.S. Department of Energy's National Energy Technology Laboratory, the company announced.

The five-year umbrella agreement establishes a framework for collaborative research on rare earth elements, critical minerals, advanced materials, carbon products, coal and coal derivatives. The partnership will focus on exploration, processing, ore deposit modeling and commercialization strategies.

Under the agreement, Ramaco and NETL will integrate advanced computing, artificial intelligence and quantum technologies to automate scientific workflows for rare earth element and critical mineral development at the company's Brook Mine in Sheridan, Wyoming.

The collaboration will leverage the DOE's Minerals to Materials Supply Chain Research Facility, which unites nine national laboratories to develop and commercialize technologies in the rare earth sector. The program operates through four centers focusing on feedstock beneficiation, extraction and separations, refining, and alloy development and advanced manufacturing.

"This far-reaching new CRADA agreement will initially focus on Ramaco's rare earth and critical mineral development and reflects the strength of our longstanding partnership with NETL," said Randall W. Atkins, CEO of Ramaco Resources.

NETL participated in the original discovery of Ramaco's Brook Mine rare earth deposit in 2018. The companies have previously collaborated on science and engineering projects, including development of high-value carbon products from coal such as graphene, synthetic graphite and carbon fibers.

Ramaco operates metallurgical coal mining complexes in southern West Virginia and southwestern Virginia, along with the Brook Mine development project in Wyoming. The company holds approximately 76 intellectual property patents and pending applications related to coal-derived carbon products.

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