Ramaco breaks ground on rare earth pilot plant in Wyoming

SHERIDAN, Wyo. - Ramaco Resources, Inc. (NASDAQ:METC, METCB), whose stock has surged over 385% in the past six months according to InvestingPro data, has begun site development for a pilot processing plant and laboratory near Sheridan, Wyoming, the company announced Thursday.

The facility, located adjacent to the Brook Mine, is designed to demonstrate the feasibility of converting domestic carbonaceous ore into high-purity rare earth oxides, which are essential components for U.S. magnet production and advanced technologies.

The project is supported by a $6.1 million matching grant from the Wyoming Energy Authority’s Energy Matching Fund. Ramaco has secured all necessary zoning and environmental permits for the site.

The pilot plant aims to process both rare earths and critical materials that were recently restricted from export by China. According to the company, the Brook Mine deposit is geologically unique and enriched with rare earths through secondary mobilization.

"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.

In July, Ramaco held a ribbon-cutting ceremony for the Brook Mine, which it described 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 event was attended by U.S. Secretary of Energy Chris Wright, Governor Mark Gordon, and several members of Congress.

The company continues to conduct infill and expansion drilling to refine its resource classification and support future operations.

The announcement was made in a press release statement from the company. Investors looking for deeper insights can access comprehensive analysis and 11 additional ProTips through InvestingPro, with the company’s next earnings report scheduled for November 5, 2025.

In other recent news, Ramaco Resources, Inc. has announced several significant developments. The company reported that its Chairman and CEO, Randall W. Atkins, has been appointed to the Executive Committee of the International Energy Agency’s Coal Industry Advisory Board. Additionally, Ramaco has been approved as a member of the Defense Industrial Base Consortium, allowing it to engage in federally funded research and production opportunities related to national defense. In personnel news, Martin van Wyk has been named Senior Vice President of Critical Minerals Processing and will lead development efforts at the Brook Mine Project in Wyoming.

On the financial front, Ramaco Resources received an Outperform rating from Baird, with a price target of $63.00. Lucid Capital Markets also initiated coverage with a Buy rating, citing the company’s strong position in metallurgical coal mining and potential to increase production. These ratings reflect confidence in Ramaco’s operational capabilities and future growth prospects. These developments highlight Ramaco’s strategic positioning in both the energy and defense sectors.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.