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The $2 Million Coal Mine That Might Hold a $37 Billion Treasure

Julie Steinberg of The Wall Street Journal reports on a recent discovery of rare earth metals.

The C3 Take
  • A 16,000 acre coal mine in Wyoming may be home to one of the largest reserves of rare earth metals in the world.
  • Located in Sheridan, the mine is estimated to have as much as 1.1 million metric tons of rare earth-oxides and is valued at $37 billion.
  • This discovery is vital to the U.S.’ efforts to diversify its rare earth supply chain away from China.

“The U.S. consumed an annual average of 8,300 metric tons of rare-earth oxides in recent years, according to estimates from the U.S. Geological Survey. Ramaco and its third-party consultant estimate there are as much as around 1.1 million metric tons of rare-earth oxides in just over a quarter of the nearly 16,000 acres of land that comprise the site.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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