Ramaco begins construction on rare earth processing pilot facility

Ramaco Resources Inc. (NASDAQ: METC) has started construction on a pilot processing plant and laboratory near Sheridan, Wyoming, the company announced. The facility is located adjacent to the Brook Mine and near the iCAM Research Center.

The pilot plant is designed to demonstrate the conversion of domestic carbonaceous ore into high-purity individual rare earth oxides, which are used in magnet production and advanced technologies. The company plans to use the facility as a step toward full-scale commercial production.

Ramaco received a $6.1 million matching grant from the Wyoming Energy Authority's Energy Matching Fund to support the pilot facility development. The company has obtained necessary zoning and environmental permits for the project.

The facility will process rare earths and critical materials that China has recently restricted from export. The Brook Mine deposit is located along the northwestern margin of the Powder River Basin.

"We believe this groundbreaking marks the beginning of a new chapter in American rare earth minerals," said Randall W. Atkins, Chairman and CEO of Ramaco Resources. "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."

In July 2025, Ramaco opened the Brook Mine, which the company describes as 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 opening ceremony was attended by U.S. Secretary of Energy Chris Wright and other government officials.

Ramaco operates metallurgical coal mining complexes in Central Appalachia and holds approximately 76 intellectual property patents and applications related to carbon products and materials production.

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