Ramaco's Wyoming Rare Earth Project Shows $1.2B NPV, First US Mine in 70 Years

Published: Jun 4, 2026 18:16

Save

[SMM Rare Earth News Flash] The preliminary economic assessment of Ramaco Resources' Brook rare earth project in Wyoming showed that at an 8% discount rate, the after-tax net present value was approximately $1.2 billion, with an internal rate of return of 38%, initial capital costs of $473 million, and a payback period of approximately 5 years. The mine had a designed life of 42 years and was expected to produce 1,000 mt of total rare earth oxides annually. The project is the first new rare earth-critical minerals mine built in the US in seventy years, and construction of mining and pilot facilities is currently underway. The Phase 1 SRC processing facility of REalloys is expected to commence operations by the end of 2026 or early 2027, with a designed annual capacity of 525 mt of Pr-Nd alloy, 25 mt of dysprosium metal, and 12 mt of terbium metal.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

China Northern Rare Earth: Affected by the industry supply-demand pace and downstream procurement cycles, rare earth prices are expected to remain range-bound in the short term.

10 hours ago

18 hours ago

"Harena Rare Earths Secures $4.84M DFC Funding for Madagascar Project, Aiming to Boost Critical Mineral Supply"

[SMM Rare Earth Express] London-listed rare earth enterprise Harena Rare Earths announced that it has signed a project development funding agreement with the U.S. International Development Finance Corporation (DFC), securing up to $4.84 million in financial support to advance the development of the Ampasindava ion-adsorption rare earth project in Madagascar. The funding will primarily be used for permitting approvals, environmental and social baseline studies, and the construction of a proof-of-concept pilot plant, providing technical support for the project's final feasibility study and reducing development risks. This reportedly marks the first time DFC has provided direct financial support to the Ampasindava project, reflecting its strategic value in the critical mineral supply chain arrangements of the US and its allies. Harena stated that the initial tranche of funding has already begun disbursement, and DFC has also expressed interest in participating in larger-scale financing once the project enters the construction phase.

18 hours ago

[SMM Rare Earth Morning Session Summary] Oxide cost support holds prices firm, Pr-Nd alloy tentatively raises prices

[Oxide cost support holds prices firm; Pr-Nd alloy prices tentatively raised] Last week, downstream inquiry activity for Pr-Nd oxide remained persistently sluggish, with some traders selling small quantities at reduced prices. However, upstream suppliers indicated that Pr-Nd oxide output was somewhat tight and were unwilling to sell at low prices. Dysprosium oxide quotations were relatively stable, but some traders offered a small amount of low-priced material. Terbium oxide market quotations were firm.

18 hours ago