other material
confidence high
sentiment positive
materiality 0.55
Ramaco Resources signs non-binding MOU with Mulberry for rare earth oxide supply
Ramaco Resources, Inc.
- MOU to negotiate supply of customized oxide blends including samarium, NdPr, yttrium, gallium, Dy/Tb.
- Mulberry will use feedstock to bolster its 10-year rare earth stockpile for permanent magnet manufacturing in Georgia.
- Mulberry's SmCo magnets are used in defense; an F-35 jet contains ~50 lbs of SmCo magnets.
- Ramaco's Brook Mine in Wyoming is the first new rare earth mine in the U.S. in over 70 years.
- Partnership aims to reduce reliance on China, which controls >90% of rare earth refining and magnet manufacturing.