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Ramaco Rare Earth Project Awarded $6.1 Million Matching Grant From Wyoming Energy Authority
LEXINGTON, Ky., March 17, 2025 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC, METCB) ("Ramaco Resources" or the "Company") is pleased to announce that
About this update from Ramaco Resources, Inc.
[{"type":"text","content":"LEXINGTON, Ky., March 17, 2025 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC, METCB) (\"Ramaco Resources\" or the \"Company\") is pleased to announce that it has received a $6.1 million matching grant authorized by Wyoming Governor Mark Gordon and issued by the Wyoming Energy Authority for Ramaco's Wyoming CORE (Carbon Ore Rare Earth) Brook Mine project. The funding will match Ramaco's significant future investment in constructing and equipping a rare earth and critical minerals pilot processing facility north of Sheridan, Wyoming.\n\nRamaco stands at the forefront of pioneering rare earth and critical minerals processing and carbon ore-to-products research, with a state-of-the-art research park to be constructed adjacent to the 16,000-acre Brook Mine property in northern Wyoming. Ramaco's proposed new rare earth elements (\"REE\") and critical mineral Brook mine would be the first new rare earth mine opened in the United States since 1952.\n\"For over 15 years, Ramaco has proudly called Sheridan home and invested in the people and economy of Wyoming. The recent discovery that our state's rich coal resources also contain the rare earth and critical minerals our country so desperately needs, now puts Wyoming at the center of delivering on our nation's energy and national security requirements. Ramaco is proud to have the support of Governor Gordon and to invest alongside the Wyoming Energy Authority's matching grant in the Wyoming CORE Brook Mine Project in Sheridan. The Wyoming legislature had the foresight to fund this program. Now Governor Gordon, and the Authority are putting it to good use by creating new jobs and economic development for the people of Wyoming. After many years of investment, we are now moving this project of national importance forward and we are committed to making our community and Wyoming proud.\" said Randall Atkins, Chairman and CEO, Ramaco Resources, Inc.\nRamaco seeks to extract valuable REE and critical minerals from unconventional coal and carbonaceous ore deposits contained at the mine. The Brook mine has been called one of the largest unconventional deposits of these elements in the world by the U.S. Department of Energy's National Energy Technology Laboratory.\nFunding from the State of Wyoming is dedicated to design, construct, and equip a facility deploying innovative technologies to pr...