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2023-11-10 Economy
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Here's why a $2M coal mine in Wyoming could be worth $37B
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 [NYP] A former Wall Street banker who dished out $2 million for an old coal mine in rural Wyoming has possibly hit a $37 billion mother lode after the discovery of "rare-earth elements" at the site, according to a report.
Randall Atkins, the son of infamous oil tycoon Orin Atkins, bought the sleepy Brook Mine outside of Sheridan, Wyo., sight unseen, 12 years ago.
However, recent tests conducted by government researchers revealed that the 15,800-acre mineral reserve contains what might be the largest unconventional rare-earth deposit in the country, according to The Wall Street Journal.
Rare-earth minerals — such as gallium and germanium — are vital in the production of superconductors, and are also needed to power electric vehicles and offshore wind turbines.
When Atkins’ company Ramaco Resources first purchased the mine, the 71-year-old "didn’t know the difference between rare earths and rare coins," he told the outlet.
Now, he’s working with government researchers to extract larger samples of Brook Mine for further analysis, drilling 700 feet into the ground to produce samples — deeper than it has ever drilled. 
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Posted by Besoeker 2023-11-10 06:10||
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Posted by M. Murcek 2023-11-10 06:39||
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Posted by Frank G 2023-11-10 06:44||
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Posted by Besoeker 2023-11-10 06:45||
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Posted by Bobby 2023-11-10 09:05||
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Posted by Rambler in Virginia 2023-11-10 18:30||
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Posted by M. Murcek 2023-11-10 19:26||
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