Ramaco Resources Rare Earth MOU
Ramaco Resources and Mulberry Industries Partner for Rare Earth Supply
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Mining.comAccording to a report by Mining.com, Ramaco Resources has entered into a memorandum of understanding (MOU) with Mulberry Industries to negotiate an offtake partnership for the supply of rare earth elements from its Brook mine in Wyoming. The Brook mine, America's first new rare earth element and critical mineral mine in over 70 years, holds the nation's largest unconventional deposit of rare earth elements and critical minerals sourced from coal and carbonaceous ore. Under the MOU, Ramaco will provide Mulberry Industries with a supply of customized oxide blends, including samarium, neodymium-praseodymium, and dysprosium/terbium, to support the manufacture of advanced permanent magnets. This partnership aims to bolster America's domestic rare earth and permanent magnet supply chain, providing a secure and ex-China supply chain for permanent magnets.