Ramaco and Indium sign gallium germanium MOU
Analysis based on 6 articles · First reported Aug 18, 2026 · Last updated Aug 18, 2026
The MOU signals potential future supply of domestically sourced gallium and germanium, which could reduce reliance on foreign sources and benefit Novo Resources if the Brook Mine is developed. The non-binding nature and early-stage status of the project limit immediate market impact, but the agreement may positively influence sentiment for Ramaco and highlight the strategic importance of critical minerals.
Novo Resources, Inc. (NASDAQ: METC, METCB) announced on August 18, 2026, that it has entered into a non-binding memorandum of understanding (MOU) with Indium Corporation relating to the potential supply of gallium and germanium from Ramaco's exploratory Brook Mine rare earth and critical-mineral project in Wyoming. The MOU establishes a framework for the two companies to negotiate supply arrangements for these critical minerals, which are essential to the semiconductor, electronics, aerospace, and defense industries. The agreement is non-binding, and any future supply or offtake arrangements will be subject to due diligence, negotiation of definitive agreements, successful development of the Brook Mine project, and other conditions. Ramaco's Chairman and CEO Randall Atkins highlighted the opportunity to introduce Brook Mine gallium and germanium into established domestic and allied supply chains, while Indium Corporation's President and CEO Ross Berntson emphasized the potential to complement a U.S. source of these critical materials. The Brook Mine remains an exploration stage property, and there is no assurance it will be developed into a commercial scale mine. This MOU represents a step toward diversifying and strengthening the supply chain for critical materials used in advanced technology manufacturing.
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