{"id":39728,"date":"2023-11-13T15:12:13","date_gmt":"2023-11-13T15:12:13","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=39728"},"modified":"2023-11-13T15:12:13","modified_gmt":"2023-11-13T15:12:13","slug":"wyoming-coal-mine-could-contain-37bn-worth-of-rare-earth-elements","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/wyoming-coal-mine-could-contain-37bn-worth-of-rare-earth-elements\/39728\/","title":{"rendered":"Wyoming coal mine could contain $37bn worth of rare earth elements"},"content":{"rendered":"
In 2011, Randall Atkins, a former Wall Street banker, bought a coal mine outside of Sheridan, Wyoming. Originally, the plan was to sell coal to power plants.<\/p>\n
However, in collaboration with the DOE\u2019s National Energy Technology Laboratory and geologists at Weir International, Inc., Atkins\u2019 company, Ramaco Resources<\/a>, discovered the mine contained abundant rare earth elements.<\/p>\n Because of this, the mine is worth an estimated $37bn \u2013 significantly more than the $2m Atkins bought it for.<\/p>\n Ramaco said it could start operations this year, making it one of two rare earth mines currently operating in the country.<\/p>\n Neodymium, praseodymium, and dysprosium are just a few of the rare earth elements found in Atkins’ Brook Coal Mine, according to Ramaco.<\/p>\n Sitting in the middle of the periodic table, these metals possess properties like fluorescence, magnetism, and conductivity. Just 17 of the total 118 elements in the periodic table are considered REEs.<\/p>\n From 2018 to 2021, about 74% of REEs in the US were imported from China; however, these imports are costly.<\/p>\nWhat are rare earth elements and why do domestic supplies need to be established?<\/h3>\n