Ramaco Resources, Inc. and Mulberry Industries MOU for Rare Earth Supply

Ramaco Resources, Inc. and Mulberry Industries have entered into a non-binding memorandum of understanding (MOU) to negotiate an agreement for Ramaco to supply Mulberry with customized oxide blends containing rare earth elements. This collaboration aims to bolster the domestic rare earth and permanent magnet supply chain. Mulberry Industries will utilize this feedstock to manufacture advanced permanent magnets for defense, aerospace, automotive, and robotics industries. The partnership seeks to reduce reliance on China for rare earth supply and strengthen American economic and national security. Ramaco Resources will supply samarium, NdPr, yttrium, gallium, and Dy/Tb from its Brook Mine in Wyoming, while Mulberry Industries will use its proprietary technology for magnet production. This initiative is a significant step towards establishing a secure, ex-China supply chain for critical materials.