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Mulberry Industries, Ramaco Resources Announce the Entry into a Non-Binding Memorandum of Understanding that aims to Strengthen Domestic Rare Earth & Permanent Magnet Supply Chain
NORCROSS, Ga. and LEXINGTON, Ky. , Dec. 23, 2025 /PRNewswire/ -- Mulberry Industries, a Georgia-based vertically integrated manufacturer of high-performance
About this update from Ramaco Resources, Inc.
[{"type":"text","content":"NORCROSS, Ga. and LEXINGTON, Ky. , Dec. 23, 2025 /PRNewswire/ -- Mulberry Industries, a Georgia-based vertically integrated manufacturer of high-performance permanent magnets and advanced electrical systems, and Ramaco Resources, (NASDAQ: METC, METCB) (\"Ramaco\") a leading developer of critical minerals and rare earth elements at its Brook Mine in Wyoming, today announce that they have entered into a non-binding memorandum of understanding (\"MOU\") to negotiate an offtake partnership that will bolster America's domestic rare earth and permanent magnet supply chain.\nUnder the MOU, Ramaco Resources will negotiate an agreement to provide Mulberry Industries, on a non-exclusive basis, with a supply of customized oxide blends that include the rare earth elements samarium, NdPr, yttrium, gallium and Dy/Tb. Mulberry will use this domestic feedstock to bolster its existing 10-year rare earth stockpile to manufacture advanced permanent magnets at its facility in Georgia for customers across the defense, aerospace, automotive, and robotics industries.\"This Ramaco Resources partnership diversifies our rare earth sourcing so we can continue to scale quickly and ensure long-term supply chain freedom for our customers,\" said Kevin Feng, CEO of Mulberry Industries. \"By working with trusted partners like Ramaco Resources, we can establish a secure, ex-China supply chain for permanent magnets right here at home that strengthens America's economic and national security.\"\"Ramaco is proud to pursue a partnership with Mulberry Industries to supply domestically sourced rare earth oxide blends that underpin a resilient, ex China permanent magnet supply chain,\" said Randall Atkins, Chairman and CEO of Ramaco Resources. \"With mining at the Brook Mine in Wyoming commencing earlier this year and construction of a pilot plant now underway, we will be positioned to deliver reliable feedstock tailored to Mulberry's advanced magnet manufacturing. Together, we seek to build a durable, transparent supply chain that helps U.S. innovators scale with confidence for the decade ahead.\"Mulberry Industries makes neodymium-iron (NdFeB), samarium-cobalt (SmCo), and aluminum-nickel-cobalt (AlNiCo) permanent magnets that are vital components for advanced technologies. Mulberry Industries is one of the only end-to-end producers in the West of SmCo magnets, which a...