REalloys Announces MOU with Ramaco Resources to Advance Rare Earth Production from U.S. Coal-Hosted Resources

Rhea-AI Summary

REalloys (Nasdaq: ALOY) signed a non-binding MOU with Ramaco Resources to explore a long-term partnership for rare earth and critical mineral products from the Brook Mine in Wyoming. The framework could give REalloys supply rights to up to 20% of future mixed rare earth carbonate (MREC) and related output.

The companies plan joint metallurgical testing, product qualification, and evaluation of offtake structures. According to REalloys, Phase 1 production using SRC infrastructure is targeted for late 2026–2027, with planned capacity of 525 tpa NdPr, 25 tpa Dy, and 12 tpa Tb metals.

Positive

• Potential rights to up to 20% of Brook Mine MREC output
• Planned Phase 1 capacity 525 tpa NdPr, 25 tpa Dy, 12 tpa Tb
• Planned Phase 2 capacity 3,000 tpa NdPr, 200 tpa Dy, 45 tpa Tb
• Access to diversified heavy rare earth and scandium-rich feedstock
• Partnership supports integrated North American mine-to-magnet strategy

Negative

• MOU is non-binding with no guaranteed commercial offtake
• Definitive agreements depend on technical validation and due diligence
• Phase 1 production not expected until late 2026 or early 2027
• Phase 2 large-scale U.S. facilities targeted around 2029–2030 timeframe

News Market Reaction – ALOY

+2.85%

16 alerts

+2.85% Session close to close

+2.7% Peak Tracked

-7.8% Trough Tracked

$619.48M Market Cap

1.0x Rel. Volume

In the May 28 session, ALOY gained 2.85%, reflecting a moderate positive market reaction. Argus tracked a peak move of +2.7% during that session. Argus tracked a trough of -7.8% from its starting point during tracking. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details a non‑binding MOU giving REalloys a framework for up to 20% supply rights ...

Analysis

This announcement details a non‑binding MOU giving REalloys a framework for up to 20% supply rights from Ramaco’s Brook Mine, complementing its phased plan to reach 525 tpa then 3,000 tpa of NdPr and meaningful Dy/Tb output. It extends a strategy of securing diversified, domestic feedstocks alongside SRC and other partners. Investors may focus on conversion of this MOU into definitive offtake, adherence to Phase 1/Phase 2 timelines, and the company’s ability to fund large‑scale build‑out.

Key Figures

MOU supply rights: up to 20% MREC and critical materials Phase 1 NdPr output: 525 tpa NdPr metal Phase 1 Dy output: 25 tpa Dy metal +5 more

8 metrics

MOU supply rights up to 20% MREC and critical materials Potential long-term supply rights from Ramaco’s Brook Mine

Phase 1 NdPr output 525 tpa NdPr metal Planned Phase 1 commercial production capacity

Phase 1 Dy output 25 tpa Dy metal Planned Phase 1 heavy rare earth production

Phase 1 Tb output 12 tpa Tb metal Planned Phase 1 heavy rare earth production

Phase 2 NdPr output 3,000 tpa NdPr metal Planned large-scale Phase 2 capacity

Phase 2 Dy output 200 tpa Dy metal Planned Phase 2 heavy rare earth capacity

Phase 2 Tb output 45 tpa Tb metal Planned Phase 2 heavy rare earth capacity

Phase timelines Phase 1: late 2026/early 2027; Phase 2: late 2029/early 2030 Expected start of commercial operations

Historical Context

5 past events · Latest: May 26 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 26	SRC agreements update	Positive	+7.8%	Expanded SRC output access and below‑budget progress on commercialization plans.
May 21	Offtake agreement	Positive	+8.1%	15‑year Tanbreez offtake supporting mine‑to‑magnet strategy for defense customers.
May 06	Government memorandum	Positive	+10.7%	Department of War memo backing domestic heavy rare earth supply initiatives.
May 05	Sector commentary	Positive	-0.2%	Commentary highlighting REalloys’ China‑free pathway and financing backdrop.
Apr 01	Strategic MOU	Positive	-6.7%	Non‑binding MOU for up to 10% Sheep Creek offtake and strategic alliance.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent strategic and policy-related rare earth announcements often saw positive next-day moves, though some partnership MOUs produced mixed or negative reactions.

Recent Company History

Over the last two months, REalloys has announced multiple steps toward a domestic heavy rare earth supply chain. On Apr 1, it secured a strategic alliance and up to 10% offtake from the Sheep Creek deposit. Early May brought policy support via a Department of War memorandum and commentary on China’s rare earth dominance. In mid‑ to late May, REalloys reported progress with the Saskatchewan Research Council and a 15‑year Tanbreez offtake. Today’s Brook Mine MOU extends this multi‑feedstock, mine‑to‑magnet build‑out.

Key Terms

mixed rare earth carbonate, scandium oxide, heavy rare earth elements, neodymium-praseodymium, +4 more

8 terms

mixed rare earth carbonate medical

"commercial evaluation of mixed rare earth carbonate (“MREC”) and scandium oxide"

A mixed rare earth carbonate is a powdery chemical mixture made from processing ore that contains several different rare earth elements bound as carbonate salts. Think of it like a crude blend of valuable metals that still needs refining into individual elements or oxides used in magnets, batteries and electronics; its quantity, composition and price signal how much feedstock is available to downstream manufacturers and therefore affects supply, costs and investment prospects in related industries.

scandium oxide medical

"evaluation of mixed rare earth carbonate (“MREC”) and scandium oxide produced from Ramaco’s"

Scandium oxide is a white, powdery mineral compound used as an ingredient to improve the strength, weight and performance of high-tech materials such as aluminum alloys, fuel cells, and certain electronics. For investors, it matters because it is a scarce, specialty raw material—like a rare spice in a recipe—that can raise costs or create supply bottlenecks for manufacturers and influence the valuations of miners, suppliers, and technology makers that rely on it.

heavy rare earth elements medical

"especially for heavy rare earth elements like Dysprosium (Dy) and Terbium (Tb)."

Heavy rare earth elements are a subgroup of rare earth metals with higher atomic weight that serve as key ingredients in advanced magnets, batteries, lasers, and other high-tech and defense applications. Think of them as specialty ingredients that small changes in supply or quality can sharply affect product performance and cost; investors watch their availability, production concentration, and price swings because those factors can materially influence manufacturers’ margins and sector valuations.

neodymium-praseodymium medical

"produce 525 tonnes per annum (“tpa”) of Neodymium-Praseodymium (NdPr) metal"

A neodymium-praseodymium blend is a combination of two rare-earth metals used as a raw material for making powerful permanent magnets found in electric motors, wind turbines and many high-tech devices. For investors, it matters because the availability and price of this “ingredient” can change manufacturing costs and supply chains the same way a spike in flour or steel prices would affect food or construction businesses, influencing profits and investment risk.

dysprosium medical

"heavy rare earth elements like Dysprosium (Dy) and Terbium (Tb)."

Dysprosium is a rare earth metal used in small amounts to make very strong permanent magnets and other high-tech parts; think of it as a tiny but essential ingredient that makes electric motors and some electronics work better. It matters to investors because its scarcity, concentrated supply, and role in clean-energy and defense technologies can drive price swings and affect the costs and competitiveness of companies that rely on those components.

terbium medical

"heavy rare earth elements like Dysprosium (Dy) and Terbium (Tb)."

Terbium is a rare earth metal used in small amounts to give electronic devices specific properties, such as bright green color in LED screens and improved performance in magnets and sensors. For investors, terbium matters because it is a critical, limited-resource input for high-tech and clean-energy products, so supply shortages or price swings can affect costs and profitability for manufacturers and the companies that rely on them—think of it as a specialty ingredient that can make or break production lines.

metallization technical

"refining, metallization, and downstream magnet manufacturing solution"

Metallization is the process of applying a thin layer of metal onto a surface—such as silicon chips, glass, or plastic—to create electrical connections, protective coatings, or reflective surfaces. For investors, metallization matters because it affects product performance, manufacturing cost, yield and durability: like adding wiring or a raincoat to an object, the metal layer can enable function, extend life and influence profit margins and competitive advantage.

offtake financial

"evaluation of potential long-term commercial offtake structures for rare earth"

An offtake is a contract where a buyer commits in advance to purchase a company’s future output—such as raw materials, energy or finished goods—often at agreed volumes and prices. For investors, an offtake provides predictable revenue and lowers the risk that production will go unsold, similar to a long-term subscription or pre-order that helps a factory or mine secure funding and plan operations with greater confidence.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Non-Binding MOU Establishes Framework for Potential Long-Term Supply Rights for up to 20% of U.S.-Produced Mixed Rare Earth Carbonate from Ramaco’s Brook Mine Project in Wyoming

EUCLID, Ohio, May 28, 2026 (GLOBE NEWSWIRE) -- REalloys Inc. (Nasdaq: ALOY) (“REalloys” or the “Company”), a vertically integrated U.S. rare earth processing and magnet supply chain company, today announced the execution of a non-binding Memorandum of Understanding (“MOU”) with Ramaco Resources, Inc. (“Ramaco”) to evaluate a strategic long-term partnership for the supply and commercialization of rare earth and critical mineral products from Ramaco’s Brook Mine operation in Wyoming.

Pursuant to the terms of the non-binding MOU, REalloys and Ramaco expect to collaborate on metallurgical testing, product qualification, and commercial evaluation of mixed rare earth carbonate (“MREC”) and scandium oxide produced from Ramaco’s Brook Mine rare earth platform. The MOU establishes a framework under which REalloys may secure supply rights for up to 20% of Ramaco’s future MREC and critical materials production.

The companies believe that the proposed partnership aligns with broader U.S. efforts to establish resilient domestic and allied critical mineral supply chains for strategic technologies, defense systems, advanced manufacturing, energy infrastructure, and next-generation industrial applications.

Unlike many greenfield rare earth projects across the globe, coal-hosted rare earth and critical mineral systems may benefit from existing mining infrastructure, industrial workforces, transportation networks, and established operating regions, potentially enabling more capital-efficient and accelerated pathways toward domestic production of strategic materials. REalloys believes that unconventional domestic feedstocks such as coal-hosted rare earth systems could become an increasingly important component of a resilient North American critical mineral supply chain, especially for heavy rare earth elements like Dysprosium (Dy) and Terbium (Tb).

Preliminary composition data provided by Ramaco indicates that the Brook Mine MREC stream may contain meaningful concentrations of neodymium, praseodymium, dysprosium, terbium, yttrium, samarium, gadolinium, and scandium, supporting the potential for a diversified basket of strategically important rare earth and critical mineral products, especially the heavy rare earth elements (HREEs) needed to manufacture the high-performance and thermally resistant magnet technology required by the U.S. defense industrial base, advanced healthcare, robotics and new energy systems.

REalloys believes the combination of Ramaco’s existing operating platform, established industrial infrastructure, and demonstrated access to institutional capital markets could provide a differentiated pathway toward scaling domestic rare earth and critical mineral production in the United States, particularly relative to many early-stage greenfield development projects globally.

REalloys is currently advancing a phased commercialization strategy that includes:

• Phase 1: a strategic partnership with the Saskatchewan Research Council (“SRC”) and usage of its rare earth processing infrastructure for commercial production of rare earth oxides and metals.
• Phase 2: development of a large-scale, integrated, and U.S.-based rare earth processing, refining, metallization, and downstream magnet manufacturing solution, which is currently expected to commence production in late 2029 or early 2030.

The Phase 1 operation is currently expected to start production in late 2026 or early 2027 and is designed to produce 525 tonnes per annum (“tpa”) of Neodymium-Praseodymium (NdPr) metal, 25 tpa of Dy metal, 12 tpa of Tb metal. REalloys’ planned Phase 2 is intended to produce approximately 3,000 tpa of NdPr metal, 200 tpa of Dy metal, and 45 tpa of Tb metal, positioning the company to be among the largest prospective integrated rare earth metal production platforms in North America. REalloys believes Ramaco’s Brook Mine platform could become an important long-term domestic supplier of mixed rare earth carbonate and other critical mineral products supporting this downstream expansion strategy.

“We believe that this MOU represents another important step in REalloys’ strategy to build a diversified, multi-feedstock domestic rare earth platform capable of supporting a fully integrated mine-to-magnet supply chain in North America,” said Leonard Strenheim, Chief Executive Officer of REalloys. “Ramaco is advancing one of the most innovative coal-hosted critical mineral initiatives in the United States, and we believe their Brook Mine platform could become an important future domestic source of heavy rare earths and other strategic materials. As REalloys advances plans for large-scale downstream refining and metallization capacity in the United States, we intend to work with Ramaco to enter into definitive documents in connection with this MOU, as partnerships such as this become increasingly important to establishing resilient domestic supply chains for strategic materials.”

The non-binding MOU and proposed collaboration is intended to integrate unconventional domestic rare earth feedstocks into scalable downstream refining, metallization, and magnet manufacturing infrastructure within North America. The companies intend to collaborate on metallurgical testing, product qualification, and evaluation of potential long-term commercial offtake structures for rare earth and critical mineral products from the Brook Mine platform. Any definitive commercial agreement will remain subject to successful technical validation, due diligence, and mutually agreed commercial terms.

ABOUT REALLOYS
REalloys Inc. is advancing a fully integrated North American mine-to-magnet supply chain encompassing upstream resource development, midstream processing, and downstream manufacturing. REalloys’ upstream foundation includes its Hoidas Lake rare-earth asset in Saskatchewan and a diversified network of allied feedstock and recycling partners. Together with the Saskatchewan Research Council, REalloys is building a solution to scale North American heavy rare earth midstream separation, refining, and metallization capabilities—creating a coordinated system that processes and converts heavy rare-earth materials from allied and domestic sources into high-purity products. Those refined materials feed directly into REalloys’ downstream manufacturing operations in Euclid, Ohio, where the company produces advanced heavy rare earth metals, alloys and magnet components for defense, energy, and high-performance industrial applications. REalloys’ Ohio facility serves federal logistics and procurement agencies supporting the Department of Defense, the Department of Energy, and National Aeronautics and Space Administration, in addition to the broader Defense Industrial Base and Organic Industrial Base.
For more information, go to www.REalloys.com or email InvestInAmerica@REalloys.com.

ABOUT RAMACO RESOURCES
Ramaco Resources, Inc. is a dual platform company that is both an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia and southwestern Virginia, and a developing producer of coal, rare earth elements and critical minerals in Wyoming. The Company's executive offices are in Lexington, Kentucky, with operational offices in Charleston, West Virginia and Sheridan, Wyoming. The Company currently has four active metallurgical coal mining complexes in Central Appalachia and one coal mine and rare earths development near Sheridan, Wyoming. In 2023, the Company announced that a major deposit of primary magnetic rare earths and critical minerals was discovered at its mine near Sheridan, Wyoming. Contiguous to the Wyoming mine, the Company currently operates a carbon research and pilot facility related to the development and production of advanced carbon products and materials derived from coal. In connection with these activities, the Company holds a body of more than 70 intellectual property patents, pending applications, exclusive licensing agreements and various trademarks. News and additional information about Ramaco Resources, including filings with the Securities and Exchange Commission, are available at https://www.ramacoresources.com. For more information, contact investor relations at (859) 244-7455.

Safe Harbor Clause and Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding the intended scope and terms of the strategic partnership between REalloys and Ramaco; the negotiation, entry into and execution of any definitive offtake, investment, equity, and other formal agreements on terms acceptable to REalloys or at all; the completion of any necessary due diligence or other procedures in connection with any potential entry into any definitive agreements; REalloys' right to secure up to 20% of rare earth production from the Brook Mine Project; the anticipated commercial scale, strategic significance, and feedstock contribution of that offtake; the anticipated timeline, cost, scale, and commercial operations of REalloys' heavy rare earth metallization facility; projected production of dysprosium, terbium, and neodymium metals and alloys at commercial scale beginning in late 2026 or early 2027; the strategic significance of the Brook Mine deposit and its suitability for REalloys' downstream operations; the anticipated path to production at Brook Mine; the success of any partnership between REalloys and Ramaco, and each Party's respective strategic, operational, technological, and financial plans. Words such as "anticipate," "believe," "could," "expect," "intend," "may," "plan," "potential," "project," "should," "target," "will," and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain such words.

Forward-looking statements are based on current expectations, assumptions, and estimates and involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those anticipated. These statements are not guarantees of future performance. Factors that could cause actual results to differ materially include, but are not limited to: the inability to realize the anticipated strategic or commercial benefits of advisory appointments; the inability to complete, commission, or operate REalloys’ heavy rare earth metallization facility on expected timelines or at anticipated cost; challenges in scaling metallization and processing technologies to commercial production; feedstock availability or quality; changes in U.S. government policy, defense procurement requirements, or critical minerals strategy; changes in rare earth pricing or market conditions; competitive developments; capital availability; geopolitical developments and trade policies affecting critical minerals; compliance with ITAR, EAR, Title 50, and applicable defense procurement standards; qualification of materials for defense applications; and general macroeconomic or capital market conditions.

All forward-looking statements speak only as of the date of this press release. REalloys undertakes no obligation to update or revise any forward-looking statements except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements.

For a discussion of additional risks and uncertainties that could affect REalloys’ business, financial condition, and results of operations, please refer to REalloys’ filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other periodic and current reports available at www.sec.gov.

Disclosure Information
REalloys uses and intends to continue using its investor website at www.realloys.com as a means of disclosing material non-public information and for complying with Regulation FD. Investors should monitor this site, along with the Company’s press releases, SEC filings, public conference calls, and webcasts.

REalloys Inc.
Sarah Riley
IR and Communications, REalloys
sarah.riley@realloys.com
www.realloys.com

FAQ

What does the REalloys (NASDAQ: ALOY) MOU with Ramaco Resources cover?

The MOU outlines collaboration on rare earth and critical mineral products from Ramaco’s Brook Mine in Wyoming. According to REalloys, it sets a framework for metallurgical testing, product qualification, and potential long-term commercial offtake for mixed rare earth carbonate and scandium oxide.

How much rare earth supply could REalloys secure from Ramaco’s Brook Mine project (ALOY)?

REalloys may obtain supply rights for up to 20% of Ramaco’s future mixed rare earth carbonate and critical materials production. According to REalloys, this potential allocation would support its downstream refining, metallization, and magnet manufacturing expansion in North America.

When is REalloys (ALOY) Phase 1 rare earth production expected to start?

Phase 1 production is currently expected to start in late 2026 or early 2027. According to REalloys, this phase uses Saskatchewan Research Council infrastructure and is designed to produce 525 tpa NdPr metal, 25 tpa Dy metal, and 12 tpa Tb metal.

What are the planned Phase 2 rare earth metal capacities for REalloys (ALOY)?

Phase 2 is intended to be a large-scale, U.S.-based integrated facility. According to REalloys, planned capacity is about 3,000 tpa NdPr metal, 200 tpa Dy metal, and 45 tpa Tb metal, supporting an expanded mine-to-magnet production platform in North America.

How could the REalloys–Ramaco MOU impact the U.S. rare earth supply chain?

The MOU is aimed at integrating coal-hosted rare earth feedstocks into North American refining and magnet production. According to REalloys, Brook Mine’s potential basket of NdPr, Dy, Tb, and other elements could support resilient domestic supply for strategic and defense technologies.

Is the REalloys (ALOY) agreement with Ramaco Resources a binding offtake contract?

No, the arrangement is a non-binding Memorandum of Understanding rather than a definitive offtake contract. According to REalloys, any binding commercial agreement will depend on successful technical validation, due diligence, and mutually agreed commercial terms between the two companies.