Ramaco's Brook Mine Receives 5-Year Mining Permit

Rhea-AI Summary

Ramaco Resources (NASDAQ: METC) has secured a second 5-year mining permit for its Brook Mine from Wyoming's Department of Environmental Quality. The permit covers 4,548.8 acres north of Sheridan, Wyoming, allowing continued coal mining and reclamation activities.

The Brook Mine Carbon Ore Rare Earth project marks a significant milestone as the first new rare earth mine in the U.S. in over 70 years and the first new Wyoming coal mine in over 50 years. The project recently received a $6.1 million Energy Matching Fund grant from the Wyoming Energy Authority for constructing a pilot-scale processing facility, with construction planned to begin in 2025.

Positive

• Secured 5-year mine permit renewal, demonstrating regulatory compliance
• First new rare earth mine in U.S. in 70+ years, reducing foreign dependency on critical minerals
• Received $6.1 million government grant for pilot processing facility
• Strategic positioning in critical minerals essential for defense, technology, and clean energy

Negative

• None.

Insights

Mining Industry & Regulatory Analyst

Ramaco secures critical mine permit extension and launches strategic rare earth project with government backing, strengthening long-term operational outlook.

Ramaco Resources has achieved two significant regulatory milestones with the 5-year permit renewal for the Brook Mine and the official opening of its Carbon Ore Rare Earth project - the first new rare earth mine in the U.S. in over 70 years and first new coal mine in Wyoming in 50+ years.

The permit renewal covering 4,548.8 acres represents crucial regulatory continuity, allowing Ramaco to maintain uninterrupted mining operations. This administrative achievement demonstrates the company's compliance with Wyoming's environmental standards and provides operational certainty through 2030.

More strategically important is the Brook Mine's rare earth capabilities. With rare earth elements classified as critical minerals essential for defense, technology and clean energy applications, this positions Ramaco at the forefront of domestic supply chain development for these strategic materials. The U.S. currently relies heavily on imports for rare earth elements, making this domestic source particularly valuable.

The $6.1 million grant from Wyoming's Energy Matching Fund further validates the project's importance, providing capital for a pilot-scale processing facility scheduled to begin construction later this year. This state-level financial support reduces Ramaco's capital burden while accelerating development timelines.

This dual-purpose mine - producing both coal and rare earth elements - creates a more diversified revenue model while aligning with national security interests in reducing foreign dependency on critical minerals.

RANCHESTER, Wyo., July 29, 2025 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC, METCB, "Ramaco" or the "Company") Ramaco is pleased to announce that the Brook Mine has received a second 5-year mine permit approval from the Land Quality Division of the Wyoming Department of Environmental Quality. The permit authorizes the company to continue to conduct coal mining and reclamation activities across a total of 4,548.8 permitted acres north of Sheridan Wyoming.

This milestone reinforces Ramaco's commitment to responsible resource development, environmental stewardship, and long-term economic investment in the region. Being a fully permitted mine is significant as it demonstrates compliance with all regulatory requirements, ensuring that mining can proceed pursuant to state authority. The 5-year permit also provides stakeholders with confidence in Ramaco's ability to develop the Brook Mine and progress towards its operational milestones.

On Friday, July 11, coal miners, community leaders, industry stakeholders, and local, state, federal officials commemorated the opening of the Brook Mine Carbon Ore Rare Earth project, the first new rare earth mine in the United States in more than 70 years and first new coal mine in Wyoming in over 50 years. The ability to domestically mine and refine rare earths and critical minerals contained in the carbonaceous ore of the Brook Mine represents a strategic milestone in the nation's efforts to reduce foreign reliance on critical minerals essential to defense, technology, and clean energy.

Earlier this year, Wyoming Governor Mark Gordon approved a Wyoming Energy Authority recommended $6.1 million Energy Matching Fund grant award to support the construction of a pilot-scale processing facility at the Brook Mine. Construction is planned to begin later this year.

ABOUT RAMACO RESOURCES

Ramaco Resources, Inc. is 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 and critical minerals in Wyoming. Its 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 development rare earth and coal mine near Sheridan, Wyoming in the initial stages of production. 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 operates a carbon research and pilot facility related to the production of advanced carbon products and materials from coal. In connection with these activities, it holds a body of roughly 76 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.

View original content:https://www.prnewswire.com/news-releases/ramacos-brook-mine-receives-5-year-mining-permit-302515177.html

SOURCE Ramaco Resources, Inc.

FAQ

What is the significance of Ramaco's (METC) Brook Mine permit renewal in 2025?

The Brook Mine received a 5-year permit renewal covering 4,548.8 acres in Wyoming, allowing continued coal mining and reclamation activities while demonstrating regulatory compliance.

How much funding did Ramaco (METC) receive for the Brook Mine project in 2025?

Ramaco received a $6.1 million Energy Matching Fund grant from the Wyoming Energy Authority to support the construction of a pilot-scale processing facility.

What makes Ramaco's (METC) Brook Mine project historically significant?

It is the first new rare earth mine in the United States in over 70 years and the first new coal mine in Wyoming in over 50 years.

When will construction begin on Ramaco's (METC) Brook Mine processing facility?

Construction of the pilot-scale processing facility is planned to begin in late 2025.

What is the strategic importance of Ramaco's (METC) Brook Mine project?

The project aims to reduce U.S. foreign dependence on critical minerals essential for defense, technology, and clean energy through domestic mining and refining of rare earths.