WYOMING – When former banker Randall Atkins bought a coal mine in Wyoming through his company Ramaco Resources, he uncovered something far more valuable: a massive deposit of rare earth elements like neodymium, dysprosium, and terbium—the main elements for the clean energy transition, high-tech electronics, and national defense.

Many countries desire these elements because they are used for producing rare earth magnets used in renewable energy systems, electric vehicles, and missile guidance technologies. China has been known as a dominant power supplying these minerals worldwide, but this discovery could help the United States reduce its dependence, shifting the global geopolitical landscape.

What began as a bet on coal mining may now place Wyoming at the center of a new era—where critical minerals drive the next phase of global industry and power. So, let’s see how this story started!

He surprisingly bought one of the biggest coal mines

What started as a regular business move has turned into one of the biggest coal mines discoveries in decades! Everything started with Randall Atkins, a former banker turned entrepreneur, who decided to buy a coal mine in Wyoming for just $2 million, hoping to invest in traditional energy. But instead of finding only coal, he struck something far more valuable: a massive deposit of rare earth metals—used in everything from electric vehicles to missile systems—now estimated to be worth up to $36 billion.

Rare materials

Hidden beneath the surface of that coal mine were elements like neodymium, dysprosium, and terbium. These metals are critical to building the technology every country wants, including:

  • Electric motors
  • Wind turbines
  • Missiles and defense systems
  • Advanced batteries and electronics

They aren’t called “rare’’ because they are uncommon in the Earth’s crust, the truth is the name comes from the challenging task of finding deposits concentrated enough to mine economically without major environmental damage. Extracting and refining these materials is complex, costly, and highly sensitive to regulation.

This means a lot for the company and the country

According to Ramaco Resources, this is the first discovery of its kind in the U.S. since 1952. That’s not just a big deal for the company, but it’s also a breakthrough for the entire country. Wyoming, long known for coal production, may now find itself at the center of the next global resource boom, as nations race to secure the materials essential for the technologies of the future.

Meaningful change in global power

What does this discovery mean worldwide? China currently controls about 90% of the global rare earth market. That gives it massive advantage over the production of electric vehicles, wind energy systems, and even military tech around the world.

A new source of these metals—especially on American soil—has enormous geopolitical implications. It offers the United States a chance to cut its dependence on Chinese supply chains and boost its energy and national security independence.

Read more at UnionRayo