Ramaco Resources, Mulberry Industries sign non-binding MOU

Mulberry Industries and Ramaco Resources (METC) announce that they have entered into a non-binding memorandum of understanding to negotiate an offtake partnership that will bolster America’s domestic rare earth and permanent magnet supply chain. Under the MOU, Ramaco Resources will negotiate an agreement to provide Mulberry Industries, on a non-exclusive basis, with a supply of customized oxide blends that include the rare earth elements samarium, NdPr, yttrium, gallium and Dy/Tb. Mulberry will use this domestic feedstock to bolster its existing 10-year rare earth stockpile to manufacture advanced permanent magnets at its facility in Georgia for customers across the defense, aerospace, automotive, and robotics industries.