Wyoming Coal Mine Reveals Unprecedented Rare Earth Discovery, Potentially Reviving the Coal Industry

Randall Atkins, the CEO of Ramaco Resources, received a pleasant surprise earlier this year when he learned that a Wyoming coal mine, which he had acquired for a mere $2 million, could potentially hold the largest unconventional deposit of rare earth elements ever discovered in the United States. The Brook Mine in Sheridan, Wyoming, now owned by Ramaco, boasts an astounding estimate that a third of its reserves may contain up to 1.2 million tons of rare earth oxides, according to the findings by Weir International, a mining consultancy commissioned by Ramaco. To put this into perspective, the entire United States has consumed approximately 10,000 tons of rare earth elements annually over the past decade.

Rare earth elements play a crucial role in advanced military technology, electric vehicles, and a range of other applications. The potential worth of the deposits discovered within the coal and clay of Sheridan could amount to tens of billions of dollars. This revelation has ignited hope for an industry that had long been considered one of the main casualties in the global transition towards renewable energy.

A Potential Boon for the Coal Industry

Randall Atkins expressed his optimism about the newfound potential within the coal industry, stating that rare earths might remain undiscovered elsewhere in the United States. He believes this discovery could breathe new life into an industry that has faced challenges in a world increasingly focused on sustainability. Atkins declared, “This is extremely promising; it’s promising not only for this company, but it’s potentially promising for the United States and, frankly, for the entire coal industry.” He added, “This might be something that will kind of awaken the thought that there might be different uses for coal,” emphasizing, “Indeed, one of our one-liners is coal is too valuable to burn.”

Ramaco’s Breakthrough in Rare Earth Mining

Ramaco Resources embarked on the development of the Brook Mine last month, marking the first new rare earth mine in the United States since the opening of the Mountain Pass Rare Earth Mine in California in 1952. Apart from its economic implications, the discovery also holds national security significance. China’s imposition of export controls on gallium and germanium, minerals vital for semiconductors, communications, and defense, has raised concerns. Early core samples from the Brook Mine indicate substantial deposits of these minerals, potentially reducing dependence on foreign sources.

Unique Deposits in Soft Materials

What sets the Wyoming discovery apart is the unique location of the rare earths within coal and clay, rather than hard metals like uranium. This distinction allows for a more cost-effective and environmentally friendly extraction process, involving milder solvents and techniques. Randall Atkins highlighted the comparative advantages, explaining, “It’s certainly going to be less expensive to get out of coal than it would be hard minerals, and it would also be simpler and much more environmentally friendly to refine them by using much milder solvents and other techniques.”

Challenges Ahead

While the prospects are promising, Atkins acknowledged that extracting rare earths from coal and clay is still a meticulous process, requiring precise techniques for separation and refinement. These elements are often present in minuscule quantities, measured in parts per million, making the extraction process complex. However, with the support of the U.S. government, including assistance from national laboratories and the expertise of top-tier scientists, Ramaco is optimistic about overcoming these challenges.

Bottom-line: The unexpected discovery of vast rare earth deposits within a Wyoming coal mine could mark a turning point for both the coal industry and the United States’ self-reliance in critical minerals. Randall Atkins and Ramaco Resources are poised to lead the way in unlocking the potential of this invaluable resource. As the world grapples with the need for sustainable solutions and reduced reliance on foreign suppliers, this discovery could provide a significant boost to the nation’s economic and national security interests. The coal industry, once seen as a relic of the past, may find renewed relevance in the pursuit of a greener and more secure future.