Ramaco Resources, Energy Department to partner on rare earths, critical minerals

[Tourmaline]
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Ramaco Resources (METC [https://seekingalpha.com/symbol/METC]) +13.8% post-market Thursday after saying it signed a cooperative research and development agreement with the U.S. Department of Energy's National Energy Technology Laboratory, enhancing their partnership [https://seekingalpha.com/pr/20287624-ramaco-and-u-s-department-of-energys-doe-national-energy-technology-laboratory-netl-execute] on rare earth element and critical mineral exploration, processing and commercialization strategies.

Ramaco (METC [https://seekingalpha.com/symbol/METC]) said the agreement will help accelerate the discovery, mining, processing and creation of rare earths and critical minerals at its Brook Mine in Sheridan, Wyoming, which the company believes contains the largest unconventional rare earth deposit in the U.S.

"This far-reaching new CRADA agreement will initially focus on Ramaco's rare earth and critical mineral development and reflects the strength of our longstanding partnership with NETL," Ramaco (METC [https://seekingalpha.com/symbol/METC]) CEO Randall Atkins said. "We believe it will bring to bear the full strength of the DoE national laboratory system's talent, scientific capabilities and expertise and in the field of critical minerals to help force multiply efforts to advance Ramaco's own critical mineral development."

The agreement will remain in effect for five years, with the option to initiate multiple collaborative projects under its umbrella, the company said.

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