logo
Wyoming's first new coal mine in decades to extract rare earths

Wyoming's first new coal mine in decades to extract rare earths

CTV News11-07-2025
Energy Secretary Chris Wright listens during a hearing of the Senate Committee on Energy and Natural Resources on Capitol Hill, June 18, 2025, in Washington. (AP Photo/Mark Schiefelbein)
CHEYENNE, Wyo. — The developer of what would be the first new coal mine in Wyoming in decades is launching a potentially US$500,000,000 effort to extract rare earth metals from the fossil fuel that are crucial for tech products and military hardware.
U.S. Energy Secretary Chris Wright, Wyoming Gov. Mark Gordon, and Wyoming's congressional delegation took part in a ribbon-cutting ceremony Friday for Ramaco Resources, Inc.'s Brook Mine outside Ranchester in northeastern Wyoming.
'Not only do we get coal here, we are going to get those rare earth elements that are going to break our dependence on China,' Wright told Fox News from the mine site Friday.
Wright's involvement underscores U.S. President Donald Trump's determination to advance fossil fuel projects and mining and reverse former U.S. President Joe Biden's moves to support renewable energy.
Administration officials on Monday moved toward selling federal coal leases in the top U.S. coal-producing region in northeastern Wyoming and southeastern Montana. On Thursday, officials announced a proposal in Utah that they said would be the first coal exploration project on U.S. Bureau of Land Management property since 2019.
Those moves came on the heels of legislation signed last week that lowered royalty payments for companies mining coal on public lands and mandated officials make available for potential mining an area greater in size than Connecticut.
Meanwhile, local officials in Utah hope the administration will support plans to build a railroad spur to boost oil drilling. A coalition of eastern Utah counties wants Trump's Transportation Department to approve US$2.4 billion in bonds for the 88-mile (140-kilometre) spur to export oil from the Uinta Basin, a project that may proceed after a U.S. Supreme Court ruling.
On Friday, the minerals capturing the administration's attention were not just coal but rare earths — a family of 17 metallic elements with unusual properties that make them useful in modern technology, from electric car batteries and wind turbines to military targeting devices.
The only operating U.S. rare earths mine is at Mountain Pass in California. Nearly all of the nation's supply comes from China, the source of nearly 90 per cent of the world's supply.
Rare earths aren't especially rare but so scattered they are difficult to bring together in useful quantities.
Concern about continued access to them has been a focus of recent negotiations between China and the U.S., and led the Trump administration to try to encourage more production domestically.
'We would intend to mine it here in Wyoming, process it here in Wyoming and sell it to domestic customers including the government,' Ramaco CEO Randall Atkins said Thursday.
Former West Virginia Sen. Joe Manchin, a Democrat who left office in January after not seeking reelection, joined the Ramaco board in April.
The new Brook Mine, though relatively small, offers a glimmer of optimism for Wyoming's coal industry as potentially the state's first new coal mine in 50 years. Massive, open-pit mines east of the Brook Mine supply around 40 per cent of the nation's coal but Wyoming coal mining has shrunk substantially since its peak over a decade ago, as utilities switch to renewable energy and power plants fueled by cheaper natural gas.
'Wyoming is moving to meet growing energy demands here at home and internationally — with the recognition that coal — Wyoming coal — is essential to healthy energy portfolios,' Gordon, a Republican, said in a statement after the Brook Mine event.
The Brook Mine has been in the works for over a decade, stalled in part by landowners worried about groundwater depletion. Atkins originally envisioned it as a source of subbituminous power plant fuel like the state's other coal mines.
A public company with metallurgical coal mines in Appalachia, Ramaco in recent years received U.S. Department of Energy grants to develop coal into carbon-based products such as carbon fiber. This year, it got a US$6.1 million grant from Wyoming to build a rare earth and critical minerals processing plant.
A consultant report released this week found that fully developing the mine and processing plant to extract rare earths would cost US$533 million, a sum that could be recovered in five years if the elements in the coal prove profitable. Ramaco also would sell the processed coal as fuel, Atkins said.
Analysis by U.S. national laboratories show the Brook Mine coal contains valuable quantities of the rare earths neodymium, praseodymium, dysprosium and terbium, as well as the critical minerals gallium, scandium and germanium, according to a Ramaco letter to shareholders on July 1.
Neodymium and dysprosium are used in the permanent magnets of wind turbines, lanthanum in electric and hybrid car batteries. Yttrium and terbium have critical military uses, including in targeting devices.
Mead Gruver, The Associated Press
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

U.S. analysis finds no evidence of widespread Hamas theft of Gaza aid
U.S. analysis finds no evidence of widespread Hamas theft of Gaza aid

CBC

time3 minutes ago

  • CBC

U.S. analysis finds no evidence of widespread Hamas theft of Gaza aid

Social Sharing An internal U.S. government analysis found no evidence of systematic theft by the Palestinian militant group Hamas of U.S.-funded humanitarian supplies, challenging the main rationale that Israel and the U.S. give for backing a new armed private aid operation. The analysis, which has not been previously reported, was conducted by a bureau within the U.S. Agency for International Development and completed in late June. It examined 156 incidents of theft or loss of U.S.-funded supplies reported by U.S. aid partner organizations between October 2023 and this May. It found "no reports alleging Hamas" benefited from U.S.-funded supplies, according to a slide presentation of the findings seen by Reuters. A U.S. State Department spokesperson disputed the findings, saying there is video evidence of Hamas looting aid, but provided no such videos. The spokesperson also accused traditional humanitarian groups of covering up "aid corruption." A White House spokesperson, Anna Kelly, questioned the existence of the analysis, saying no State Department official had seen it and that it "was likely produced by a deep state operative" seeking to discredit President Donald Trump's "humanitarian agenda." The findings were shared with the USAID's inspector general's office and State Department officials involved in Middle East policy, said two sources familiar with the matter, and come as dire food shortages deepen in the devastated enclave. Israel says it is committed to allowing in aid but must control it to prevent it from being stolen by Hamas, which it blames for the crisis. However, the New York Times reported on Saturday that the Israeli military has found no proof of Hamas systemically stealing aid from UN-run raid distribution sites, citing unnamed Israeli officials. Those officials said the UN operations were, in fact, largely effective. WATCH | Canadian doctor says hunger situation in Gaza is a 'humanitarian disaster': 'We're witnessing starvation as a weapon of war' in Gaza: Canadian doctor 4 hours ago Gaza health officials are reporting nine new Palestinian deaths from hunger, bringing the total to 122 since Israel began its attacks on the territory. Dr. Joanne Perry, Canadian medical team leader for Doctors Without Borders in Gaza, says the hunger situation in the region 'is truly a humanitarian disaster.' Israeli military spokesperson Nadav Shoshani called the New York Times report "fake news" on social media. The UN World Food Program says nearly a quarter of Gaza's 2.1 million Palestinians face famine-like conditions, thousands are suffering acute malnutrition and the World Health Organization and doctors in the enclave report starvation deaths of children and others. The UN also estimates that Israeli forces have killed more than 1,000 people seeking food supplies, the majority near the militarized distribution sites of the Gaza Humanitarian Foundation (GHF), the new private aid group that uses a for-profit U.S. logistics firm run by a former CIA officer and armed U.S. military veterans. WATCH | Amnesty International slams GHF, likens operations to 'animal pen': 'Like an animal pen': Amnesty International slams Gaza Humanitarian Foundation aid distribution 21 days ago According to a new Amnesty International report, the Gaza Humanitarian Foundation — a U.S.- and Israel-backed group that took over aid distribution in Gaza over a month ago — uses a militarized aid mechanism that enables Israel to use starvation as a weapon of war and inflict genocide against Palestinians. Budour Hassan of Amnesty International says those on the ground describe acquiring aid as a 'harrowing' endeavour. The USAID study was conducted by its Bureau of Humanitarian Assistance (BHA), which was the largest funder of assistance to Gaza before the Trump administration froze all U.S. foreign aid in January, terminating thousands of programs. It has also begun dismantling USAID, whose functions have been folded into the State Department. The analysis found that at least 44 of the 156 incidents where aid supplies were reported stolen or lost were "either directly or indirectly" due to Israeli military actions, according to the briefing slides. Israel's military did not respond to questions about those findings. WATCH | Recounting the struggle to feed a family in Gaza: Gaza aid worker says she's struggling to feed her family 3 days ago Aid groups around the world are urging governments to restore aid distribution in Gaza, warning that the risk of mass starvation has spread across the region. Yousra Abu Sharekh, a children's charity co-ordinator, described how she's struggling to feed her own family and described the situation as 'unimaginable.' The study noted a limitation: because Palestinians who receive aid cannot be vetted, it was possible that U.S.-funded supplies went to administrative officials of Hamas, the Islamist rulers of Gaza. One source familiar with the study also cautioned that the absence of reports of widespread aid diversion by Hamas "does not mean that diversion has not occurred." The war in Gaza began after Hamas attacked Israel in October 2023, killing 1,200 people and capturing 251 hostages, according to Israeli tallies. Nearly 60,000 Palestinians have been killed since the Israeli assault began, according to Palestinian health officials. Israel accuses Hamas of diverting aid Israel, which controls access to Gaza, has said that Hamas steals food supplies from UN and other organizations to use to control the civilian population and boost its finances, including by jacking up the prices of the goods and reselling them to civilians. Asked about the USAID report, the Israeli military told Reuters that its allegations are based on intelligence reports that Hamas militants seized cargoes by "both covertly and overtly" embedding themselves on aid trucks. Those reports also show that Hamas has diverted up to 25 per cent of aid supplies to its fighters or sold them to civilians, the Israeli military said, adding that GHF has ended the militants' control of aid by distributing it directly to civilians. Responding to the New York Times report, Shoshani said: "It has been well documented throughout the war how Hamas systematically exploited humanitarian aid to fund terrorist activities in various ways." Hamas denies the allegations. A Hamas security official said that Israel has killed more than 800 Hamas-affiliated police and security guards trying to protect aid vehicles and convoy routes. Their missions were co-ordinated with the UN. Reuters could not independently verify the claims by Hamas and Israel, which has not made public proof that the militants have systematically stolen aid. GHF also accuses Hamas of massive aid theft in defending its distribution model. The UN and other groups have rejected calls by GHF, Israel and the U.S. to co-operate with the foundation, saying it violates international humanitarian principles of neutrality. In response to a request for comment, GHF referred Reuters to a July 2 Washington Post article that quoted an unidentified Gazan and anonymous Israeli officials as saying Hamas profited from the sales and taxing of pilfered humanitarian aid. Aid groups required to report losses The 156 reports of theft or losses of supplies reviewed by BHA were filed by UN agencies and other humanitarian groups working in Gaza as a condition of receiving U.S. aid funds. The second source familiar with the matter said that after receiving reports of U.S.-funded aid thefts or losses, USAID staff followed up with partner organizations to try to determine if there was Hamas involvement. Those organizations also would "redirect or pause" aid distributions if they learned that Hamas was in the vicinity, the source said. Aid organizations working in Gaza also are required to vet their personnel, sub-contractors and suppliers for ties to extremist groups before receiving U.S. funds, a condition that the State Department waived in approving $30 million US for GHF last month. WATCH | GHF operation 'killing people,' says UN chief: UN chief says U.S.-backed Gaza aid operation 'is killing people' 29 days ago United Nations Secretary General Antonio Guterres says a U.S.-backed aid operation in Gaza is 'inherently unsafe,' accusing the Gaza Humanitarian Foundation of militarizing aid and forcing displacement. The slide presentation noted that USAID partners tended to over-report aid diversion and theft by groups sanctioned or designated by the U.S. as foreign terrorist organizations — such as Hamas and Palestinian Islamic Jihad — because they want to avoid losing U.S. funding. Of the 156 incidents of loss or theft reported, 63 were attributed to unknown perpetrators, 35 to armed actors, 25 to unarmed people, 11 directly to Israeli military action, 11 to corrupt subcontractors, five to aid group personnel "engaging in corrupt activities" and six to "others," a category that accounted for "commodities stolen in unknown circumstances," according to the slide presentation. The armed actors "included gangs and other miscellaneous individuals who may have had weapons," said a slide. Another slide said "a review of all 156 incidents found no affiliations with" U.S.-designated foreign terrorist organizations, of which Hamas is one. "The majority of incidents could not be definitively attributed to a specific actor," said another slide. "Partners often largely discovered the commodities had been stolen in transit without identifying the perpetrator." WATCH | Family-run clans work to secure aid convoys in Gaza: Gaza clans come together to secure aid convoys 29 days ago Family-run clans take up arms to secure aid convoys amid ongoing chaos at distribution sites and around trucks. It is possible there were classified intelligence reports on Hamas aid thefts, but BHA staff lost access to classified systems in the dismantlement of USAID, said a slide. However, a source familiar with U.S. intelligence assessments told Reuters that they knew of no U.S. intelligence reports detailing Hamas aid diversions and that Washington was relying on Israeli reports. The BHA analysis found that the Israeli military "directly or indirectly caused" a total of 44 incidents in which U.S.-funded aid was lost or stolen. Those included the 11 attributed to direct Israeli military actions, such as airstrikes or orders to Palestinians to evacuate areas of the war-torn enclave. Losses indirectly attributed to Israeli military included cases where they compelled aid groups to use delivery routes with high risks of theft or looting, ignoring requests for alternative routes, the analysis said.

The Smartest Ethereum ETF to Buy With $500 Right Now
The Smartest Ethereum ETF to Buy With $500 Right Now

Globe and Mail

time24 minutes ago

  • Globe and Mail

The Smartest Ethereum ETF to Buy With $500 Right Now

Key Points The iShares Ethereum Trust (ETHA) has attracted more assets than any other Ethereum ETF, with 42% of asset inflows in just the past month. BlackRock's backing provides institutional credibility and virtually unlimited financial resources behind the fund. Buying Ethereum through an ETF eliminates the need for crypto wallets, special exchanges, and fractional coin calculations. 10 stocks we like better than iShares Ethereum Trust - iShares Ethereum Trust ETF › Exchange-traded funds (ETFs) based on the real-time price of Ethereum (CRYPTO: ETH) have been around for a year now. Since the funds were approved and launched in July 2024, Ethereum has gained 7% while the S&P 500 (SNPINDEX: ^GSPC) rose 18%. The leading ETFs have done a great job of tracking this performance precisely, even if the cryptocurrency has been lagging behind stocks recently. But one ETF stands apart from the rest in many ways. If you're planning to enter the Ethereum market via an ETF, the iShares Ethereum Trust (NASDAQ: ETHA) should be at the top of your list. Apart from having the most assets under management (AUM) in its category, the iShares ETF also comes with low fees and a proven fund family. So if you have $500 to spend on a crypto investment today, here's why you should consider the iShares Ethereum Trust. Is Ethereum a good investment? Ethereum is often more volatile than the larger Bitcoin (CRYPTO: BTC) cryptocurrency. For instance, the two crypto giants have both posted approximately 1,200% gains in the last five years, but Ethereum's path to this peak had many more peaks and valleys along the way. The S&P 500 is basically flatlining next to both, even in the midst of the generative artificial intelligence boom: Ethereum Price data by YCharts Now, Ethereum serves a very different purpose than Bitcoin. Instead of a fundamental wealth-holding tool, Ethereum's smart contracts help app developers manage financial tools and trends in a global blockchain ledger. So Ethereum's value doesn't spring from a scarce supply, but from real-world usage of the resulting programs. That makes Ethereum a promising investment if you feel like the financial world could use a whole new set of basic tools. Ethereum-based apps can track ownership of physical assets, execute financial transactions automatically, or manage your digital wallet securely. The Ethereum ledger is readable anytime, from anywhere. At the same time, its encryption effectively makes all of this transaction data immune to hacking and fraud attacks. On this platform, developers can build a wide variety of financial apps, mobile games, and so on. So if you see a market for this sort of thing in the long run, Ethereum has led the blockchain-based app development space for years. It's the industry standard -- for good reason. And that should make Ethereum a solid investment over the years, as decentralized app development continues to gain traction. Why buy via an Ethereum ETF? Buying Ethereum directly often means setting up a new account with a different type of brokerage -- one that can handle cryptocurrency trades rather than stock transactions. You also need to get comfortable with a different type of transaction, where you're usually trading fractions of a digital coin rather than batches of full shares of a stock. Prices are always changing, and you have to figure out where to store your new Ethereum coins. ETFs make the whole process much easier, assuming you already have a stock-trading brokerage account. These funds act just like stocks, with shares usually priced in a comfortable range. A few iShares Ethereum Trust shares at $27 apiece can be more comfortable than a single Ethereum coin at $3,640. What makes the iShares ETF special? As mentioned, the iShares fund is more popular and therefore more liquid than other Ethereum-based ETFs. This makes trading safer and easier, with more stable share prices and quicker transactions. It's part of the world-famous iShares fund family, next to the even more popular iShares Bitcoin ETF (NASDAQ: IBIT) and the massive iShares Core S&P 500 ETF (NYSEMKT: IVV). Financial services giant BlackRock runs the show, giving investors the peace of mind that comes with essentially bottomless financial backing. And like most of its iShares cousins, this one comes with a low fee ratio. At 0.25% per year, it's not exactly the cheapest Ethereum ETF to own, but it comes close to the lowest-cost Grayscale Ethereum Mini Trust (NYSEMKT: ETH) at 0.15%. The BlackRock backing and world-class liquidity can make up for this small gap, and some Ethereum ETFs come with fee ratios as high as 2.5%. The iShares Ethereum Trust is only pulling away from the competition, too. With 42% of AUM inflows over the last month, this fund added more AUM than any other Ethereum ETF has done year to date. You should consider the iShares Ethereum Trust before any other fund in this category. It's a great place to put your next $500 (about 18 shares) of investable cash to work. Market makers broadly agree, judging by the dominant inflows of more funding. Should you invest $1,000 in iShares Ethereum Trust - iShares Ethereum Trust ETF right now? Before you buy stock in iShares Ethereum Trust - iShares Ethereum Trust ETF, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and iShares Ethereum Trust - iShares Ethereum Trust ETF wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Anders Bylund has positions in Bitcoin, Ethereum, iShares Bitcoin Trust, and iShares Ethereum Trust - iShares Ethereum Trust ETF. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

Is Rivian Stock a Buy Now?
Is Rivian Stock a Buy Now?

Globe and Mail

time34 minutes ago

  • Globe and Mail

Is Rivian Stock a Buy Now?

Key Points Rivian manages its key components in-house, including a proprietary technology platform for vehicle controls and autonomous driving features. It leveraged its technology to form a joint venture with Volkswagen, accelerating the development of next-generation electric vehicles. Rivian is scheduled to begin construction of a new EV manufacturing facility in Georgia in 2026. 10 stocks we like better than Rivian Automotive › Rivian Automotive (NASDAQ: RIVN) has captured some investor attention in its quest to establish its place in the electric vehicle (EV) market. Following a meteoric rise after its initial public offering in late 2021, Rivian's stock plummeted in the two years that followed. The stock is still down 92% from its peak. However, recent developments, including its announcement of a joint venture with Volkswagen (OTC: VWAP.Y) and consecutive quarters of positive gross profits, show that Rivian may be turning a corner. Still, challenges remain as the company prepares to expand its manufacturing capacity and scale up production over the next several years. If you're thinking of investing in Rivian, here's what you need to know. Rivian's in-house focus and technology platform Rivian manages nearly all aspects of its business, from engineering to manufacturing, in-house. The company has developed a technology platform that encompasses a comprehensive software stack, covering everything from vehicle controls to the user interface, and enabling over-the-air updates and feature enhancements. Additionally, it features an in-house built autonomy platform with driver-assist technology that can be utilized for autonomous driving. The company leveraged this technology to establish a joint venture with the Volkswagen Group that focuses on software, electronic control units (ECUs), and related network architecture design and development. Volkswagen plans to utilize Rivian's zonal ECU architecture and software stack across its multiple brands. In November, Rivian received $1.3 billion for intellectual property licensed to Volkswagen. Volkswagen has also committed to making additional equity investments of up to approximately $2.5 billion in multiple tranches. Amazon is a major customer and investor One key aspect of Rivian's business since 2019 has been its partnership with Amazon (NASDAQ: AMZN) to develop the Rivian Commercial Van and Electric Delivery Van variants. Today, there are more than 20,000 of these vehicles on the road. In November 2023, their agreement was amended to adjust specific exclusivity rights for Amazon, allowing Rivian to sell its commercial vans to other customers. The Amazon contract has been a major portion of Rivian's business. In 2024, Rivian generated over $1.04 billion in revenue from Amazon -- 21% of its total revenue. In 2025's first quarter, revenue from Amazon totaled $99 million, a significant decrease from the $338 million reported in the same quarter last year. Amazon also holds a significant stake in Rivian, representing 13.3% of its voting power. This partnership with one of the world's largest retailers has been instrumental in helping Rivian establish its foothold in the competitive automotive industry. Still, it will be crucial for the EV maker to develop its other partnerships and revenue streams. What's next for Rivian? Rivian has a history of incurring significant net losses, including a net loss of $4.8 billion last year and a $541 million loss in 2025's first quarter. However, the company did achieve a gross profit of $206 million in Q1, its highest gross profit to date. It was also the company's second consecutive quarter of gross profitability. Management expects to achieve a positive gross profit for 2025 as it continues to focus on cost efficiencies. RIVN Revenue (Quarterly) data by YCharts. The EV maker will continue to ramp up production and add to its facilities. It plans to build a second manufacturing facility near Social Circle, Georgia, to meet demand from the United States and international markets. The plant is expected to have an annual capacity of 400,000 vehicles. It will be built in two phases, each contributing 200,000 units of annual capacity. Construction of that Georgia facility is expected to begin in 2026, with production on the first manufacturing line projected to start in 2028. Vehicles produced there will be on the company's midsize platform, which includes its R2 and R3 models. Development of this facility is supported by a loan arrangement with the U.S. Department of Energy for up to approximately $6.6 billion. Is Rivian right for you? Rivian is expanding its manufacturing footprint, strategically developing its software and services ecosystem, and forming strategic partnerships with key customers and partners. The company is making solid progress in revenue and gross profit, and I would like to see it continue to improve its cost efficiency and profitability. Investors buying today could be getting on the ground floor. That said, analysts project that the EV maker will continue to lose money through 2028, as it will take time and capital to build out its facilities and scale up production. For these reasons, Rivian is a high-risk, high-potential-reward stock that may take years to pay off, making it best suited for aggressive investors with long-term buy-and-hold timelines. Should you invest $1,000 in Rivian Automotive right now? Before you buy stock in Rivian Automotive, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Rivian Automotive wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store