Latest news with #rare earth elements
Yahoo
2 days ago
- Business
- Yahoo
This Little-Known Stock Is Soaring on Rare Earth Metals News. Should You Buy It Here?
Ucore (UURAF) ( shares soared over 13% on Tuesday and continued the rally on Wednesday, July 16 after the company based out of Nova Scotia announced a major milestone in its U.S. expansion plans. In its press release, the Canadian firm confirmed it will begin producing rare earth elements at its new Louisiana facility in May 2026 – marking a significant step toward reshoring critical mineral processing. More News from Barchart Dear Google Stock Fans, Mark Your Calendars for July 23 Retirement Ready: 3 Dividend Stocks to Set and Forget Dear UnitedHealth Stock Fans, Mark Your Calendars for July 29 Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. At its intraday peak, Ucore stock was up roughly 160% versus its year-to-date low set in early March. Here's What It Means for Ucore Stock Ucore's announcement signals real progress in its effort to build a domestic supply chain for rare earth metals, which are essential to defense systems, electric vehicles, and advanced electronics. The Louisiana facility will initially produce 3,000 tons of rare earths annually, scaling to 12,000 tons by 2027, according to the company's press release on Wednesday. Its location within a foreign trade zone offers tariff advantages and global logistics flexibility, while Pentagon funding ($18.4 million) underscores the strategic importance of the project. With China tightening export controls, Ucore with its U.S.-based processing capability is positioned as a unique North American alternative. The Louisiana facility update could attract long-term contracts and increase institutional interest – potentially driving the share price up over time. Ucore Shares Are a Speculative Investment at Best Despite today's rally, investors should practice caution in buying Ucore shares as the company's future hinges on successful execution of a multi-phase construction project that's currently in early stages only. Additionally, investors should note that Ucore doesn't get coverage from Wall Street analysts, which often suggests low liquidity and minimal institutional interest – both red flags for long-term investors. Therefore, it's fair to conclude that Ucore Rare Metals is more of speculative bet for now than a fundamentally sound investment. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Bloomberg
3 days ago
- Business
- Bloomberg
Rare Earth Firm Ucore to Start Output at Louisiana Plant in May
Canada's Ucore Rare Metals Inc. aims to start producing rare earth elements at a new Louisiana facility next May, boosting US processing capacity in an industry that's currently dominated by China. The move comes as the Trump administration ramps up efforts to increase domestic production of rare earths, which are strategically vital for weapons and other high-tech applications.
Yahoo
11-07-2025
- Business
- Yahoo
Wyoming's first new coal mine in decades to extract rare earths
CHEYENNE, Wyo. (AP) — The developer of what would be the first new coal mine in Wyoming in decades plans to process the fossil fuel to extract hard-to-get metals that are crucial for tech products and military hardware. Energy Secretary Chris Wright, former West Virginia U.S. Sen. Joe Manchin, Wyoming Gov. Mark Gordon, and Wyoming's congressional delegation are on the VIP list for a groundbreaking ceremony Friday at the Ramaco Resources, Inc., Brook Mine outside Ranchester in far northern Wyoming. Rare earth elements are a family of 17 metallic elements with unusual properties that make them useful for specific applications. 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. China supplies almost 90% of the world's rare earths. Concern about continued access to the substances 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. Rare earths aren't especially rare but so scattered they are difficult to bring together in useful quantities. Currently the only U.S. rare earths mine is at Mountain Pass in California. 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. '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. Manchin, who left office in January after not seeking re-election, joined the Ramaco board in April. No new Wyoming coal mine has opened in 50 years. Wyoming's coal industry instead has shrunk substantially since its peak over a decade ago, troubled as utilities switch to renewable energy and power plants fueled by cheaper natural gas. The Brook Mine, stalled in part by landowners worried about groundwater depletion, has been in the works for over a decade. Atkins originally envisioned it as a source of subbituminous power plant fuel, much like Wyoming's massive open-pit mines that supply about 40% of the nation's coal. A public company with metallurgical coal mines in Appalachia, Ramaco in recent years received Department of Energy grants to develop coal into carbon-based products such as carbon fiber. This year, it got a $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 would cost around $500 million, a sum that could be recovered in five years if the rare earths can be extracted and sold. Ramaco also would sell the processed coal as fuel, Atkins said. Sign in to access your portfolio
Associated Press
11-07-2025
- Business
- Associated Press
Wyoming's first new coal mine in decades to extract rare earths
CHEYENNE, Wyo. (AP) — The developer of what would be the first new coal mine in Wyoming in decades plans to process the fossil fuel to extract hard-to-get metals that are crucial for tech products and military hardware. Energy Secretary Chris Wright, former West Virginia U.S. Sen. Joe Manchin, Wyoming Gov. Mark Gordon, and Wyoming's congressional delegation are on the VIP list for a groundbreaking ceremony Friday at the Ramaco Resources, Inc., Brook Mine outside Ranchester in far northern Wyoming. Rare earth elements are a family of 17 metallic elements with unusual properties that make them useful for specific applications. 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. China supplies almost 90% of the world's rare earths. Concern about continued access to the substances 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. Rare earths aren't especially rare but so scattered they are difficult to bring together in useful quantities. Currently the only U.S. rare earths mine is at Mountain Pass in California. 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. '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. Manchin, who left office in January after not seeking re-election, joined the Ramaco board in April. No new Wyoming coal mine has opened in 50 years. Wyoming's coal industry instead has shrunk substantially since its peak over a decade ago, troubled as utilities switch to renewable energy and power plants fueled by cheaper natural gas. The Brook Mine, stalled in part by landowners worried about groundwater depletion, has been in the works for over a decade. Atkins originally envisioned it as a source of subbituminous power plant fuel, much like Wyoming's massive open-pit mines that supply about 40% of the nation's coal. A public company with metallurgical coal mines in Appalachia, Ramaco in recent years received Department of Energy grants to develop coal into carbon-based products such as carbon fiber. This year, it got a $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 would cost around $500 million, a sum that could be recovered in five years if the rare earths can be extracted and sold. Ramaco also would sell the processed coal as fuel, Atkins said.
Yahoo
10-07-2025
- Business
- Yahoo
Massive rare earths elements deposit confirmed in Wyoming
In a groundbreaking moment for the American mining industry, the Fluor Corporation has confirmed the feasibility of large rare earth element deposits at Ramaco Resources' Brook Mine in Wyoming. This announcement marks a significant step towards redefining the United States' position in the critical minerals market. The confirmation by Fluor not only solidifies the economic potential of the Brook Mine but also positions Ramaco Resources as a key player in reducing the country's dependency on foreign sources of rare earth elements. Ramaco Resources, initially known for its operations as a metallurgical coal miner, was thrust into the spotlight with this unexpected discovery. The company, headquartered in Lexington, Kentucky, had been primarily focused on coal mining in Appalachia. The Brook Mine project represents a strategic pivot for Ramaco, leveraging its mining expertise to tap into the lucrative rare earth element market. According to the Preliminary Economic Assessment (PEA) conducted by Fluor Corporation, the rare earth deposits at Brook Mine are not only abundant but also economically viable. The PEA outlines a robust financial outlook, with a net present value (NPV) of $1.197 billion at an 8% discount rate and an internal rate of return (IRR) of 38% pre-tax. The report projects that the mine will produce 1,242 tons annually of oxides, including high-value minerals such as dysprosium, neodymium, and scandium, which are critical to various advanced technologies. Specifically, dysprosium and neodymium have unusual magnetic properties that make them perfect for high-performance magnets in electric vehicles and various electronics, while scandium's most important applications involve its use as an alloy for aluminum. The economic significance of these discoveries cannot be overstated. Rare earth elements are integral to modern technology, playing a crucial role in the manufacturing of everything from electric vehicles and wind turbines to sophisticated military systems. Historically, the United States has relied heavily on imports, particularly from China, to meet its demand for these minerals. The Brook Mine's potential to support 3-5% of the U.S.'s total permanent magnet demand is a crucial development in shifting the nation's supply chain dynamics. Aside from economic viability, the strategic implications are profound. Rare earth elements have long been a strategic lever for China, which controls roughly 85% of global production. China's dominance in the market has allowed it to wield significant influence, at times restricting exports as a tool in trade negotiations. This dependency has underscored the urgency for the U.S. to establish a secure, domestic supply of these critical materials. Ramaco's leadership has recognized the strategic and national security dimensions of their project. Randall Atkins, the Chairman and CEO of Ramaco Resources, emphasized the importance of the Brook Mine discovery not only for the company but also for the nation. With plans to develop processing facilities capable of handling these rare earth elements domestically, Ramaco aims to foster a vertically integrated supply chain, addressing both extraction and processing within the United States. The transition from a coal-centric operation to a rare earth element powerhouse reflects broader shifts in the global energy landscape. As the demand for cleaner, sustainable energy solutions grows, the need for rare earth elements will only increase. The Brook Mine discovery positions Ramaco at the forefront of this evolution, offering significant economic rewards while contributing to national security. As Ramaco Resources continues to develop the Brook Mine, the focus will be on optimizing extraction processes and scaling up operations to meet projected demand. The backing from Fluor Corporation, an internationally renowned engineering firm, provides additional credibility and support to Ramaco's ambitious plans. The discovery and subsequent validation of rare earth elements at the Brook Mine is a landmark event for Ramaco Resources and American industry at large. By establishing a domestic supply chain for these essential materials, the United States not only reduces its reliance on foreign sources but also strengthens its strategic autonomy. The post Massive rare earths elements deposit confirmed in Wyoming appeared first on FreightWaves.
