LEXINGTON, Ky., Aug. 6, 2024
/PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC, METCB,
"Ramaco" or the "Company") today released additional information
regarding the Brook Mine project in Wyoming, as well as third-party groups
advancing the development of rare earth and critical mineral
deposits at the site. This includes two new companies — Fluor
Corporation and Hazen Research, Inc. — who bring their
industry-leading expertise to the project.
Third party groups currently working on the Brook Mine project
now include:
- Fluor Corporation, a global leader in engineering and
construction, will conduct a comprehensive techno-economic
assessment of our rare earth mining operations. Based on this
validation and economic assessment, Fluor will also be designing
the rare earth and critical mineral refining and processing
demonstration plant at Ramaco's Western operations in Wyoming. The Company is planning to start
construction on this new facility in mid 2025.
- SGS, a world-leading inspection, verification, testing,
and certification company, is providing mineralogical and elemental
analysis. Additionally, their expertise in hydrometallurgy will
support various aspects of Ramaco's flow sheet design.
- Hazen Research Inc. is contributing their extensive
capabilities in mineralogical and elemental analysis to the Brook
Mine project, as well as physical beneficiation testing. Their work
will enhance Ramaco's understanding of the ore characteristics and
improve beneficiation processes, critical for optimizing resource
recovery.
- National Energy Technology Laboratory (NETL) is
assisting in the continuing assessment and interpretation of the
Brook Mine deposit. They are also collaborating with Ramaco on
novel AI-assisted high-grade mapping that will help identify and
target the highest concentrated areas, thereby improving the
efficiency and effectiveness of Ramaco's mining efforts.
"We are excited to have assembled a world-class team of
experienced parties in the rare earth and critical mineral fields.
Working with our internal critical minerals group, they will help
guide and execute on Ramaco's plans to develop what we feel will be
one of our nation's largest and soon first new rare earth project
of its type in the United States,"
said Randall Atkins, Chairman and
Chief Executive Officer.
"We are now moving with dispatch to complete chemical,
mineralogical and metallurgical testing of the deposit while
simultaneously doing further exploration. This will inform our
overall techno-economic analysis, which we expect to complete with
Fluor later this year. We anticipate also releasing additional
testing results on our exploration and chemical analysis from Weir
International later this Fall. Lastly, we are moving to complete
the planning, design and development steps to initiate construction
on a rare earth demonstration processing facility contiguous to the
mine site by the middle of next year."
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. 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 rare earth
deposit of primary magnetic rare earths 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 60 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.
POINT OF CONTACT
INVESTOR
RELATIONS: info@ramacometc.com or 859-244-7455
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content:https://www.prnewswire.com/news-releases/ramaco-announces-project-update-and-new-third-party-groups-assisting-in-development-of-rare-earth-elements-deposit-at-brook-mine-302214866.html
SOURCE Ramaco Resources, Inc.
