Ramaco discovers critical minerals in U.S. coal mine
- Ramaco Resources has discovered critical minerals in its coal mine in the U.S., which could supply the country for years.
- This discovery comes as the U.S. government is enhancing policies to increase domestic mineral production amid reliance on China.
- The potential for these critical minerals marks a shift in the U.S. approach towards securing energy independence and national security.
In a significant development for U.S. energy and security, Ramaco Resources announced the existence of the world's only primary source mine that is embedded with critical minerals, including gallium, germanium, and scandium. Located in the United States, this mine is estimated to contain around 1.7 million tons of these essential materials. The company's chief executive, Randall Atkins, pointed out that a substantial amount of critical minerals currently used in the U.S. comes from China, underscoring the importance of securing domestic sources. This discovery comes at a time when the U.S. government, under President Trump’s administration, has been actively creating policies to increase domestic mineral production through executive orders. In March 2020, following growing concerns over China's dominance in the extraction and processing of critical minerals, the administration focused on developing strategies for securing supply chains within the U.S. It was noted that these critical minerals are vital for national security interests and their availability must not be compromised. The shift in focus towards coal as a source of critical minerals began during Trump’s first term in 2017 when the Department of Energy initiated research projects to explore coal mining's potential contributions to the critical minerals supply. Despite the challenges surrounding the processing of these minerals found in coal, advances in technology are being pursued, with collaborative efforts between Ramaco and institutions like MIT emphasizing novel extraction methods. Ultimately, the U.S. aims to reduce its reliance on foreign resources, especially from China, and increase mining, processing, and production activities domestically. This vision is in alignment with legislative efforts such as the SECURE Minerals Act, introduced by Congressman Rob Wittman, which seeks to create a Resilient Resource Reserve to stabilize the market and ensure an independent supply chain of critical minerals. With Ramaco's discoveries and the government’s push, the landscape of the U.S. mining industry is poised for substantial evolution and growth in the coming years.