Royalty Management Holding Corporation (Nasdaq: RMCO) has announced the results of an expanded sampling program at its T.R. Mining & Equipment portfolio in Jamaica, revealing the presence of rare earth elements (REEs) in addition to previously identified iron ore, titanium, and vanadium. This discovery is significant due to the critical role REEs play in manufacturing rare earth magnets, essential components in electric vehicles, wind turbines, defense equipment, and consumer electronics.
The sampling program, conducted on a special exclusive prospecting lease covering 213 million tons of raw feedstock, indicates that the site contains not only high concentrations of iron ore, titanium, and vanadium but also valuable REEs. Thomas Sauve, CEO of Royalty Management, emphasized the project's potential to offer some of the lowest cost titanium, magnetite, and vanadium feedstock sources in the market, now augmented by the addition of REEs.
With a mining permit underway, the company plans to employ local personnel in Jamaica to separate and process these valuable minerals. Royalty Management holds a 10% royalty on sales of these elements, aiming to maximize the resource's value for both the company and Jamaica. The discovery of REEs at the site could significantly impact the global supply chain for critical minerals, offering a new source of these essential materials.
For more information on Royalty Management Holding Corporation, visit https://www.royaltymgmtcorp.com.
