A New "gold Rush" Is Brewing In The U.S.

The finding has the potential to change the country's economy.

For the first time in more than seven decades, a new rare earth element deposit has begun development in the United States. This historic project, located in Wyoming, has the potential to transform the American economy and strengthen national defense.

The discovery is documented in a recent economic feasibility study published by an independent source. It says the Brook Mine contains up to 1.7 million tons of rare earth and critical minerals, with vast areas of the deposit yet to be explored. The mine is expected to significantly reduce U.S. dependence on foreign supplies of these materials, writes The Daily Galaxy.

Breakthrough discovery - Brook Mine in Wyoming

According to Popular Mechanics, Ramaco Resources of Lexington, Kentucky, originally a coal mining company, made an extraordinary discovery in May 2023. The company discovered a large deposit of rare earth elements in the coal seams of its Wyoming property.

These include gallium, scandium, and critical elements such as neodymium and praseodymium. These minerals are essential to the production of high-tech devices, renewable energy systems and military weapons.

Brook Mine breaks new ground in the history of American mining - it is the first new rare earth element deposit in the United States in 70 years. The discovery comes at a time when the world's supply of these elements is under tremendous strain, especially since China controls nearly 90% of the world's volume. Thus, the mine could be a game changer, especially for the defense and high-tech sectors.

From smartphones to fighter jets

Rare earth elements are not "rare" in the literal sense, but they are extremely difficult to mine and process. They are critical to many modern technologies, from smartphones to electric cars and even military equipment like fighter jets and nuclear submarines.

One key defense application is the production of permanent magnets, which are used in the systems of the F-35 Lightning II fighter jet and Virginia-class submarines.

In addition, Brook Mine is rich in other critical elements: lithium, nickel, cobalt and graphite. These materials are used in batteries for electric cars and in the production of semiconductors for computers and smartphones.

America's secret weapon in the battle for world markets

With trade wars and global competition for rare earth elements, Brook Mine opens up an opportunity for the U.S. to regain some autonomy in the supply of these materials. In 2023, the U.S. almost entirely imported about 10,000 tons of rare earth metals, and Brook Mine plans to produce up to 1,400 tons annually once it reaches full capacity. While this is a relatively small portion of U.S. demand, the move is critical to reducing dependence on China.

The mine's strategic importance goes far beyond the extraction of raw materials. It provides the U.S. with an opportunity to strengthen the supply chain for defense and technology industries, which is critical to national security.

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