Ramaco Resources, Inc. (NASDAQ: METC, METCB) has signed a non-binding memorandum of understanding with Indium Corporation to negotiate a potential supply of gallium and germanium from Ramaco's Brook Mine project in Wyoming, according to a press release.

The Brook Mine is currently an exploration-stage rare earth and critical minerals property near Sheridan, Wyoming. Any future supply or offtake arrangements will require the completion of due diligence, negotiation of definitive agreements, and successful development of the mine.

Indium Corporation, headquartered in Clinton, New York, manufactures and supplies materials including semiconductor packaging materials, thermal interface materials, solder products, and specialty metals to the semiconductor, electronics, aerospace, and defense industries.

"Indium Corporation brings decades of experience supplying advanced electronic materials to the global semiconductor industry," said Randall Atkins, Chairman and CEO of Ramaco Resources. "We believe this MOU demonstrates a promising opportunity to introduce Brook Mine gallium and germanium into established domestic and allied supply chains."

Indium Corporation President and CEO Ross Berntson said the MOU represents "an opportunity to explore how our capabilities can complement a potential U.S. source of these critical materials."

Ramaco noted that the Brook Mine remains an exploration-stage property and that no assurance can be given that it will be successfully developed into a commercial-scale mine or that estimated inferred mineral resources will be converted into mineral reserves.