Ramaco Resources Enters MOU with REalloys to Bolster Supply Chain
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Ramaco Resources has entered into a non-binding memorandum of understanding with REalloys an Ohio-based rare earth company, to establish a strategic relationship to complete due diligence and finalize an offtake agreement aimed at bolstering America’s domestic rare earth and permanent magnet supply chain.
The MOU contemplates that Ramaco would provide REalloys with a supply of mixed rare earth carbonate (MREC) from Ramaco’s exploratory rare earth and critical minerals project in Wyoming. REalloys would then perform separation of the Ramaco feedstock into various rare earth oxides at its Saskatchewan Research Council (SRC) facility. The MOU also contemplates that Ramaco would supply its own separated scandium oxide from its Brook Mine critical mineral refinery for alloy metallization at REalloys’ Euclid, Ohio facility.
“Ramaco is proud to pursue a future partnership with REalloys to supply domestically sourced mixed rare earth carbonates and scandium oxide that could underpin a resilient, ex China permanent magnet supply chain,” said Randall Atkins, chairman and CEO of Ramaco Resources.
“We are progressing to position the Brook Mine to potentially deliver both reliable MREC feedstock tailored to REalloys’ SRC separation facilities as well as our own scandium oxide for REalloys’ metallization process,” added Atkins.
Ramaco Resources is a dual platform critical mineral company that is both an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia and southwestern Virginia, and a developing producer of coal, rare earth and critical minerals in Wyoming. The company’s 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 coal mine and rare earth development near Sheridan, Wyoming in the initial stages of production. In 2023, the company announced that a major deposit of primary magnetic rare earths and critical minerals was discovered at its mine near Sheridan, Wyoming. Contiguous to the Wyoming mine, the company currently operates a carbon research and pilot facility related to the development and production of advanced carbon products and materials derived from coal. In connection with these activities, it holds a body of roughly 70 intellectual property patents, pending applications, exclusive licensing agreements and various trademarks.
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