Ramaco coal mine, bought for $2M, could be worth $37B, WSJ says

Ramaco Resources recently started extracting larger samples for its Brook Mine in Wyoming, and if the project proceeds as intended, it would be the first new rare-earths mine in the U.S. since 1952, Julie Steinberg of Wall Street Journal reports. The mine, which comprises both heavy and light rare earths, includes neodymium, praseodymium, dysprosium and terbium, might be the largest so-called unconventional rare-earth deposit in the U.S., according to government researchers, reports the Journal. At current market prices, it could be worth around $37B, according to Steinberg. Ramaco bought the old coal mine outside sight unseen for about $2M 12 years ago. Shares of Ramaco Resources are up 34% to $15.67 following the report.