Independent Interim Report Confirms Commercial and Technical Feasibility of Ramaco's Brook Mine Rare Earth Deposit
Ramaco Resources (NASDAQ: METC) announced that Fluor 's interim preliminary techno-economic analysis confirms the commercial and technical feasibility of the Brook Mine rare earth elements (REE) project. The mine contains one of the world's largest unconventional deposits of REE and critical minerals from coal and carbonaceous ore.
Key findings indicate that scandium, gallium, and germanium oxides account for approximately 70% of potential revenue. The Brook Mine would be the only primary source mine globally for these elements. The project features soft, non-radioactive, friable rock, potentially enabling more efficient extraction at lower capital intensity compared to traditional hard rock mines.
Final preliminary techno-economic report is expected in Q1 2025, followed by a full scoping study in Q2 2025. Construction of a commercial pilot plant is planned to begin in second half of 2025.
Ramaco Resources (NASDAQ: METC) ha annunciato che l'analisi tecnico-economica preliminare interinale di Fluor conferma la fattibilità commerciale e tecnica del progetto della miniera di Brook per gli elementi di terre rare (REE). La miniera contiene uno dei più grandi depositi non convenzionali di REE e minerali critici da carbone e minerali carbonacei al mondo.
I risultati chiave indicano che ossidi di scandio, gallio e germanio rappresentano circa il 70% dei potenziali ricavi. La miniera di Brook sarebbe l'unica miniera di sorgente primaria a livello globale per questi elementi. Il progetto presenta rocce morbide, non radioattive e friabili, potenzialmente in grado di consentire un'estrazione più efficiente con una minore intensità di capitale rispetto alle tradizionali miniere di roccia dura.
Il rapporto tecnico-economico preliminare finale è previsto per il primo trimestre del 2025, seguito da uno studio di fattibilità completo nel secondo trimestre del 2025. La costruzione di un impianto pilota commerciale è programmata per iniziare nella seconda metà del 2025.
Ramaco Resources (NASDAQ: METC) anunció que el análisis preliminar interino de tecnología económica de Fluor confirma la viabilidad comercial y técnica del proyecto de la mina Brook para elementos de tierras raras (REE). La mina contiene uno de los depósitos no convencionales de REE y minerales críticos de carbón y mineral carbonáceo más grandes del mundo.
Los hallazgos clave indican que óxidos de escandio, galio y germanio representan aproximadamente el 70% de los ingresos potenciales. La mina Brook sería la única fuente primaria de estos elementos a nivel global. El proyecto cuenta con roca blanda, no radioactiva y desmenuzable, lo que potencialmente permite una extracción más eficiente con menor intensidad de capital en comparación con las minas de roca dura tradicionales.
Se espera que el informe preliminar técnico-económico final se complete en el primer trimestre de 2025, seguido por un estudio completo de alcance en el segundo trimestre de 2025. La construcción de una planta piloto comercial está planificada para comenzar en la segunda mitad de 2025.
Ramaco Resources (NASDAQ: METC)는 Fluor의 임시 기술 경제 분석이 Brook 광산 희귀 지구 원소(REE) 프로젝트의 상업적 및 기술적 타당성을 확인했다고 발표했습니다. 이 광산에는 세계에서 가장 큰 비전통적인 REE 및 석탄과 탄소광에서 나오는 주요 광물이 다량 존재합니다.
주요 발견에 따르면 스칸듐, 갈륨, 독일ium 산화물이 잠재적 수익의 약 70%를 차지합니다. Brook 광산은 이러한 원소의 전 세계 유일한 주요 출처 광산이 될 것입니다. 이 프로젝트는 부드럽고 비방사성이며 부서지기 쉬운 암석을 특징으로 하여 전통적인 경화석 광산에 비해 낮은 자본 집중도로 더 효율적인 추출이 가능할 것으로 보입니다.
최종 예비 기술 경제 보고서는 2025년 1분기 중에 발표될 예정이며, 2025년 2분기에는 전체 범위 연구가 뒤따를 것입니다. 상업 파일럿 플랜트의 건설은 2025년 하반기에 시작될 것으로 계획되어 있습니다.
Ramaco Resources (NASDAQ: METC) a annoncé que l'analyse préliminaire technique et économique intérimaire de Fluor confirme la faisabilité commerciale et technique du projet de la mine de Brook pour les éléments des terres rares (REE). La mine contient l'un des plus grands dépôts non conventionnels de REE et de minéraux critiques issus de la charbon et du minerai carbonacé.
Les conclusions clés indiquent que les oxydes de scandium, de gallium et de germanium représentent environ 70 % des revenus potentiels. La mine de Brook serait la seule mine de source primaire au niveau mondial pour ces éléments. Le projet se caractérise par des roches molles, non radioactives et friables, permettant potentiellement une extraction plus efficace avec une intensité de capital inférieure par rapport aux mines de roche dure traditionnelles.
Le rapport technique et économique préliminaire final est prévu pour le premier trimestre 2025, suivi d'une étude de faisabilité complète au deuxième trimestre 2025. La construction d'une usine pilote commerciale devrait commencer dans la seconde moitié de 2025.
Ramaco Resources (NASDAQ: METC) gab bekannt, dass die vorläufige technische und wirtschaftliche Analyse von Fluor die kommerzielle und technische Machbarkeit des Brook-Minenprojekts für seltene Erden (REE) bestätigt. Die Mine enthält eine der weltweit größten unkonventionellen Lagerstätten von REE und kritischen Mineralien aus Kohle und karbonhaltigem Erz.
Wesentliche Ergebnisse zeigen, dass Scandium-, Gallium- und Germaniumoxide etwa 70% des potenziellen Umsatzes ausmachen. Die Brook-Mine wäre die einzige primäre Quelle für diese Elemente weltweit. Das Projekt zeichnet sich durch weiche, nicht-radioaktive und brüchige Gesteine aus, die eine effizientere Extraktion bei geringerer Kapitalkonzentration im Vergleich zu traditionellen Hartgesteinminen ermöglichen könnten.
Der endgültige vorläufige technische und wirtschaftliche Bericht wird im ersten Quartal 2025 erwartet, gefolgt von einer umfassenden Machbarkeitsstudie im zweiten Quartal 2025. Der Bau einer kommerziellen Pilotanlage ist für die zweite Hälfte von 2025 geplant.
- Project confirmed as commercially and technically feasible by independent analysis
- Would be world's only primary source mine for scandium, gallium, and germanium
- Lower capital investment required compared to traditional hard rock REE mines
- Non-radioactive, soft ore enables more efficient and cost-effective extraction
- Strategic timing with China's ban on gallium and germanium exports to US
- Final testing and economic projections still pending
- Commercial pilot plant construction not starting until H2 2025
- Project still in early development phase with multiple studies pending
Insights
The interim report from Fluor represents a significant milestone for Ramaco's Brook Mine project, particularly given the recent Chinese export restrictions on critical minerals. The project's unique positioning as potentially the world's only primary source mine for scandium, gallium and germanium is strategically valuable.
The deposit's key advantages include:
- Non-radioactive, soft ore composition enabling lower processing costs
- Reduced capital intensity compared to traditional hard rock mines
- Strategic timing with China's export ban on gallium and germanium
- Diverse revenue streams with >
95% from high-value elements
While financial projections are pending final studies in Q1-Q2 2025, the preliminary feasibility confirmation from a reputable firm like Fluor significantly de-risks the project. The planned commercial pilot plant construction in H2 2025 provides a clear development pathway.
The technical aspects of this deposit are particularly noteworthy. The soft, friable nature of the carbonaceous ore presents significant processing advantages over traditional hard rock REE deposits. The absence of radioactive materials typically associated with rare earth mining substantially simplifies environmental compliance and handling requirements.
The focus on high-grade extraction of the most valuable elements (scandium, gallium, germanium and magnetic REEs) is strategically sound. These elements command premium prices and have critical industrial applications in semiconductors, electronics and clean energy technologies. The simplified flowsheet and reduced operational complexity could translate to superior operating margins compared to conventional REE operations.
Project would be only primary source mine for gallium, germanium, and scandium in the world
Key Highlights:
- Ramaco seeks to extract valuable rare earth elements ("REE") and critical minerals from unconventional coal and carbonaceous ore deposits contained at the mine, which 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 ("NETL"). - Ramaco retained Fluor to conduct both a preliminary techno-economic study of the Brook Mine, as well as a follow-on more complete scoping study.
- Substantial metallurgical and chemical testing of the deposit by independent third-party laboratories is ongoing, and will be finalized in Q1 2025. Fluor will then complete their final preliminary techno-economic report upon receipt and analysis of that data in Q1. A subsequent full scoping study is anticipated in Q2 2025. Economic projections will be provided upon completion of the studies.
- From its interim preliminary analysis, which is subject to receipt and analysis of complete testing results and data, Fluor concludes the Brook Mine project is both technologically and commercially feasible.
- Preliminary financial modelling from Fluor indicates both potentially strong economics and financial returns, even at a lower level of capital investment than required at traditional hard rock REE mines, which typically contain deposits which are both harder to mine and radioactive to process.
- Preliminary findings indicate that the elements of scandium, gallium and germanium oxides account for approximately
70% of potential revenue. Fluor indicates that the Brook Mine would be the only primary source mine for these elements in the world. - On December 2, gallium and germanium were banned for export to
the United States byChina , which controls approximately95% and60% respectively of these critical materials used globally. - Scandium, gallium, germanium together with magnetic rare earth elements (neodymium, praseodymium, dysprosium and terbium) constitute over
95% of potential revenue, but only roughly one third of the deposit. - The Brook mine plan will seek to high-grade the extraction process to focus primarily on mining these higher value oxide products.
- The Company continues to work with Fluor to evaluate planning and design of a commercial pilot plant, with construction on track to begin in the second half of 2025.
The results of the preliminary assessment by Fluor provide momentum and independent validation for Ramaco to continue its current development plans for the Brook Mine carbon ore, REE and critical mineral deposit. Unlike conventional REE deposits that often require complex and costly processing, as well as the handling of radioactive material, the Brook Mine deposit uniquely consists of soft, non-radioactive, friable rock associated with coal.
This minimizes the energy-intensive processes typically associated with hard rock mining, which should facilitate a more efficient extraction at lower capital intensity than REEs found in hard rock mines. This should also support a streamlined flow sheet, reducing operational complexity and potentially lower overall capital and operational costs.
"This initial report marks an important milestone in Ramaco's pursuit of making the development of its Brook Mine deposit into a far-reaching critical materials commercial business. Yet much work still remains on this potentially transformational road for us," said Randall Atkins, Chairman and CEO of Ramaco Resources. "Importantly, this analysis from a recognized independent firm validates our continued pursuit of the development of this potentially valuable and nationally strategic deposit."
"We envision that the full commercial, technical and economic contours of this project will evolve over the next several months with the release of the final techno-economic report and then the scoping study. This Spring we will be expanding further coal mining and initiating process development of the project. We will continue to provide regular updates to our investors as we transition forward in the creation of our emerging rare earth and critical mineral business."
About Ramaco Resources, Inc.
Ramaco Resources, Inc. is an operator and developer of high-quality, low-cost metallurgical coal in southern
Point of Contact:
INVESTOR RELATIONS: info@ramacometc.com or 859-244-7455
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SOURCE Ramaco Resources, Inc.
FAQ
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