Highlights

• Ramaco Resources is launching the Brook Mine in Wyoming.
• This mine is the largest unconventional rare earth element deposit in the U.S.
• The mine will produce 1,240 tons of rare earth and critical mineral oxides annually.
• Estimated revenue generation of $378 million by 2029.
• Unique coal seam-hosted REE extraction offers processing advantages.
• This challenges China's current dominance in rare earth refining.

Ramaco Resources is set to break ground on July 11 at its Brook Mine in Ranchester, Wyoming—hailed as the largest unconventional rare earth element (REE) deposit in the U.S. The event will be attended by U.S. Energy Secretary Chris Wright (opens in a new tab), Governor Mark Gordon, and key lawmakers, underscoring the mine’s strategic national importance.

The Brook Mine’s 1.7 million tons of rare earth and critical mineral oxides—including high-value neodymium, praseodymium, dysprosium, terbium, gallium, scandium, and germanium—could supply up to 30% of U.S. defense magnet needs and 5% of total domestic magnet demand, according to a new preliminary economic assessment by Fluor Corp.

Uniquely hosted in coal seams rather than hard rock, the mine’s REE-bearing material requires less crushing and produces fewer radioactive tailings, offering processing advantages that challenge China’s dominance in REE refining.

Ramaco plans to produce 1,240 tons of REE/critical oxides annually by 2029, generating an estimated $378 million in revenue. A pilot plant, funded in part by a $6.1 million Wyoming Energy Authority grant, is slated to begin operation by late 2025, with full commercial processing expected by 2027.

“This will be America’s rare earth mine,” said Ramaco Chairman and CEO Randall Atkins. “Hopefully, for many decades to come.”

The Brook Mine’s launch marks a milestone in U.S. efforts to rebuild a domestic rare earth supply chain, which is critical to defense, semiconductors, and clean energy.

Execution Assumptions

For Ramaco’s Brook Mine to justify its bullish projections, several untested assumptions must hold. First, the economic viability hinges on the successful scale-up of processing soft coal-hosted REEs—an unconventional feedstock with limited commercial precedent. The pilot plant must demonstrate that Ramaco’s proprietary separation technologies can extract rare earths at a competitive cost and purity, without reverting to Chinese toll refining. Second, the market must absorb 1,240 tons of specialty oxides annually—at assumed high-margin prices—despite uncertain domestic magnet capacity and volatile geopolitical demand. Third, regulatory risk remains: REE extraction from coal-associated strata may face stricter scrutiny from environmental groups, particularly if radioactive byproducts emerge during full-scale operations. Finally, the timeline is tight: with commercial production targeted for 2027, any delay in construction, permitting, or off-take agreements could push revenues—and investor returns—years out. Brook Mine is a bold bet on U.S. REE independence, but execution risk remains high.