Posted on 11/10/2023 4:54:34 AM PST by Libloather
A 71-year-old investor who bought an old Wyoming coal mine sight-unseen for $2million has learned that it may contain $37 billion worth of 'rare earth' minerals.
Randall Atkins, the CEO of Ramaco Rescources, bought the Brook Mine in Sheridan 12 years ago - but it wasn't until years later that researchers checked if the ground contained elements that are used for semiconductors, missiles and solar cells.
He was shocked to find out that his mine may contain the largest rare-earth deposit in the United States - and the materials may be worth 18,500 times what he paid for the land. The last US mine to be found with such rare materials was found in 1952.
Atkins' 6,000 acres of land in the Powder River Basin has tested positive for gallium and germanium, and estimates show that there could be 1.1 million metric tons of oxides in just a quarter of plot, reports the Wall Street Journal.
This is compared to the US average annual consumption of 8,300 metric tons.
Neodymium, praseodymium, dysprosium and terbium have also been found.
Magnets made from neodymium are used in hard disc drives and mobile phones, while praseodymium is used in high-strength alloys in aircraft engines.
Dysprosium is used to make control rods in nuclear reactors, and terbium is used in low-energy lightbulbs and mercury lamps.
His rare earth elements are now being sold for more than $1 million per metric ton.
Kentucky-born Atkins and his team are now hoping to mine the elements, process them into what's needed for green energy - including for motors in electric vehicles and offshore wind turbines.
Ramaco Rescources, which is worth $620 million, typically focuses on mining metallurgical coal. It was Randall's father, Orin Atkins, who built Ashland Oil into a multinational energy conglomerate.
(Excerpt) Read more at dailymail.co.uk ...
There is probably a rare species of worm that the environmentalists want to preserve in the mine.
May contain. May be worth.
Neodymium, praseodymium, dysprosium and terbium have also been found. >>>>>>>>>>>>>>>>>>
Not to mention a large derivative quantity of MAGAsonium.
Yope.
Or some Indian holy place.
Happened to me once. They gave me a shot and it cleared right up.
So is he looking for investors or is he looking to dump it on some sucker?
Magnets made from neodymium are used in hard disc drives......................which are obsolete..................
Dig, Baby, dig!.......................
True that. The U.S. has tons of rare earth deposits that the leftists always find reason to keep us from utilizing ... all while those same leftists try to force us to depend on them more with EV’s and such.
Next month we will read that a Chinese company closely associated with the Chinese army has entered an agreement to purchase this company and that the Biden administration has approved the sale.
If he has a publicly traded corporation, now is the time to buy in!
Sounds like they’re a long, long way from having proven reserves of these elements. A few positive tests and some estimates don’t cut it.
The whole thing sounds incredible, in the literal meaning of the word.
Here’s his bio. He’s not some rube from nowhere:
“Randall Atkins is a founder of Ramaco and has served as the Chairman of our Board of Directors since its inception in 2015. He was also appointed our Chief Executive Officer in 2021. He been involved in energy-related investment and financing activity for over 40 years. He previously served as Chairman and Chief Executive Officer of privately held Ramaco Coal, LLC since its inception in 2011. Prior to forming Ramaco, he was with J.P. Morgan & Co. . He served as the immediate past Chairman of the U.S. Department of Energy’s National Coal Council, is a Member of the Coal International Advisory Board of the International Energy Agency in Paris, France and is on the Board of Directors of the National Mining Association. He holds a Bachelor of Arts degree from Duke University and a Juris Doctor degree from Washington & Lee University School of Law.”
Has the regime shut it down yet?
Sounds like another site soon to be designated a National Park…
If it does contain all the wealth, I doubt the government will allow her to keep it, oh they’ll force her to take pennies on the dollar but the gov will wrest control from her at some point.
Get Ready
Rare earths are not that rare, and the USA has tons of them. The issue is mining them at a profit.
Any American mine has to compete with Chinese ones paying slave wages, and none of them can.
Chinese company closely associated with the Chinese army
—
All Chinese companies are associated with the PLA and vise versa. What one has, the other will get; new Xi Jinping promulgation last year.
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