Ramaco Resources has entered into a non-binding memorandum of understanding with Indium Corporation to explore the supply of gallium and germanium from the Brook Mine project in Wyoming, the companies said on Tuesday.
The agreement establishes a framework for negotiations on potential supply terms, subject to due diligence, the negotiation of definitive agreements, and the successful development of the Brook Mine, which remains in the exploration stage. Ramaco Resources, headquartered in Lexington, Kentucky, operates metallurgical coal mining complexes in West Virginia and Virginia, while Indium Corporation is based in Clinton, New York.
Indium Corporation manufactures advanced electronic materials and specialty metals used in semiconductor packaging, thermal interface materials, solder products, and other applications across the semiconductor, electronics, aerospace, defense, and manufacturing industries. The company operates facilities in China, Germany, India, Malaysia, Mexico, Singapore, South Korea, the United Kingdom, and the United States.
Randall Atkins, Chairman and CEO of Ramaco Resources, said the MOU highlights a potential opportunity to introduce gallium and germanium from the Brook Mine into domestic and allied supply chains. Ross Berntson, President and CEO of Indium Corporation, said the agreement represents a chance to assess how the company’s capabilities could complement a potential U.S. source of these critical materials.
The Brook Mine project is currently in the exploration phase, and no definitive supply agreements have been finalized. The MOU does not commit either party to proceed with commercial transactions.
