In the context of the US-China trade war, rare earth minerals have become a significant strategic resource that has raised alarms in the United States. The Chinese Communist Party utilizing rare earths as leverage has prompted the U.S. government under the Trump administration to boost domestic rare earth mining and production to reduce reliance on China.
According to a report by Fox News on July 2nd, the Brook Mine Carbon Ore Rare Earth project in Wyoming will hold a ribbon-cutting ceremony on July 11th. National and state leaders are expected to attend the event in Ranchester and deliver speeches. This marks the first new mine opening in the state in over fifty years.
The owner of the new mine, Ramaco Resources, stated in a press release, “This will be the first new rare earth mine in over seventy years in the United States and the first new coal mine in over fifty years in Wyoming.”
In 2023, during exploration of the Brook coal mine, rare earths were discovered, making it the first rare earth mine found in the U.S. since 1962. The Wall Street Journal reported at the time that, based on prices then, the mine’s value could amount to $37 billion.
Randall W. Atkins, Chairman and CEO of Ramaco Resources, stated in a release, “This is not just a ribbon-cutting ceremony, but a declaration of America’s determination to regain leadership in critical mineral resources and energy independence.”
He continued, “We are proud that Ramaco is developing the first new mine, leading America in establishing a new trend in domestic strategic rare earth and critical mineral supply chains.”
Ramaco Resources stated that the Brook Mine project will help the U.S. reduce reliance on foreign countries for critical minerals needed in defense, high-tech, and clean energy sectors.
Concerns arise due to potential shortages of essential elements in the U.S. industrial supply chain caused by geopolitical risks. These minerals are used in manufacturing powerful magnets, widely applied in industry, technology, and defense. Recently, China has weaponized its dominance in rare earths by cutting off the supply of rare earth products needed by American automakers, attempting to gain leverage in trade negotiations with President Trump.
Years ago, U.S. companies ceded the rare earth market to China due to high manufacturing costs and environmental concerns. Now, American enterprises are striving to restore their past rare earth manufacturing capabilities.
Ramaco Resources operates in West Virginia, Virginia, and Wyoming, with its headquarters located in Lexington, Kentucky.
Governor Mark Gordon of Wyoming stated in a release, “Wyoming continues to lead in energy innovation, including our expansion in critical mineral industries.”
He concluded, “Supported by energy infrastructure subsidy funds, the significant potential of our coal and rare earth mineral resources in Wyoming will be realized, worthy of celebration as these resources will play a role in our state’s energy economy.”
In April of this year, President Trump ordered the Department of Commerce to investigate the impact of imported critical minerals and their products (including magnets) on national security. This investigation may lead to additional tariffs beyond those signed by President Biden and slated to take effect next year.
President Trump also requested the Department of Commerce to expedite approval for new mining operations, such as the planned rare earth mining by U.S. Rare Earth Company in Texas. Industry analysts mentioned that government officials are considering other related supportive measures, including financing, tax incentives, procurement commitments, and mineral reserves.
A senior government official who chose to remain anonymous told The Washington Post, “Given the President’s high attention to critical mineral extraction, this administration will continue to utilize all available means to enhance the resilience of the supply chain.”