REalloys Secures Potential 20% Stake in Ramaco’s Coal-Hosted Rare Earth Supply
Event summary
- REalloys signed a non-binding MOU with Ramaco Resources to evaluate a long-term partnership for rare earth supply from Wyoming’s Brook Mine.
- The deal could secure REalloys up to 20% of Ramaco’s future mixed rare earth carbonate (MREC) and scandium oxide production.
- Brook Mine’s MREC stream contains heavy rare earth elements (HREEs) like dysprosium and terbium, critical for defense and high-tech applications.
- REalloys aims to start Phase 1 production (525 tpa NdPr, 25 tpa Dy, 12 tpa Tb) by late 2026 or early 2027, scaling to 3,000 tpa NdPr by late 2029 or early 2030.
- The partnership aligns with U.S. efforts to build resilient domestic critical mineral supply chains.
The big picture
This MOU marks a strategic pivot toward coal-hosted rare earth feedstocks, leveraging existing infrastructure to accelerate domestic production. The deal underscores the growing importance of heavy rare earth elements (HREEs) for defense and high-tech applications, positioning REalloys as a key player in North America’s critical mineral supply chain. The partnership could reduce reliance on greenfield projects, offering a more capital-efficient path to scaling rare earth production.
What we're watching
- Technical Validation
- Whether metallurgical testing and product qualification will confirm the commercial viability of Brook Mine’s rare earth stream.
- Execution Risk
- The pace at which REalloys can scale its Phase 2 production to meet projected 3,000 tpa NdPr capacity by late 2029 or early 2030.
- Supply Chain Resilience
- How the U.S. government’s critical minerals strategy may influence demand and regulatory support for domestic rare earth production.
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