Wyoming coal mining giant Peabody Energy has been awarded a federal grant to advance the production of rare-earth elements and critical minerals from the Powder River Basin. The company will receive a portion of the $75 million allocated by the U.S. Department of Energy for this purpose.
Project Details
Peabody plans to build a pilot processing facility at its Rawhide mine, located just north of Gillette, to extract rare earth and critical minerals from coal. The facility is expected to produce market-ready mixed rare-earth concentrate, which can be further refined to produce oxides and metals used in modern technology.
The project is expected to support 55 new jobs and has received additional funding of $6.25 million from the Wyoming Energy Authority’s Energy Matching Fund. Wyoming Governor Mark Gordon expressed his support for the project, stating that it demonstrates the value of Wyoming coal beyond its use for electricity generation.
Industry Impact
The U.S. has lagged behind China in the production and refining of rare-earth elements and critical minerals. The Trump administration has made efforts to strengthen the U.S. coal sector and unlock the value of coal as a domestic source of critical minerals and materials.
Peabody Energy’s entrance into the market brings corporate prowess to the prospect of putting Wyoming on the world map for rare-earth and critical mineral production. The company’s market value is $2.8 billion, and it is the largest coal producer in Wyoming and the nation.
Original reporting: Oil City News (Casper WY) — read the source article.
