Ramaco releases initial assessment of Wyoming critical minerals project

Ramaco Resources, Inc. (NASDAQ: METC, METCB) released an initial assessment report from Hatch Associates Consultants, Inc. on its Brook Mine critical minerals project in Sheridan, Wyoming, along with a shareholder letter from Chairman and Chief Executive Officer Randall W. Atkins.

The Hatch study evaluates a carbochlorination-based refining and flowsheet process for the Brook Mine project, providing preliminary process definitions and capital and operating cost estimates. The company noted the report is a scoping study, and all estimates and projections are based on limited and incomplete data and are not considered definitive.

"The Hatch report and its analysis marks an important milestone in advancing our vision of building a fully integrated domestic critical minerals platform," Atkins said in the shareholder letter.

The Brook Mine is described by Ramaco as an exploration-stage property. The company cautioned that no assurance can be given that the project will be successfully developed into a commercial-scale mine, or that estimated mineral resources will be converted into mineral reserves.

Ramaco is primarily an operator and developer of metallurgical coal in southern West Virginia and southwestern Virginia. The Brook Mine represents a separate initiative involving coal, rare earth elements, and other critical minerals. The company also operates a carbon research facility adjacent to the Brook Mine related to advanced carbon products.

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