Over a decade ago, a Wall Street banker bought a coal mine to sell coal. Turns out, the mine contains rare earth elements that could be worth tens of billions of dollars. AdvertisementAdvertisementIn 2011, Randall Atkins, a former Wall Street banker, bought a mine outside of Sheridan, Wyoming, sight unseen, The Wall Street Journal reported. In May, Ramaco announced that Atkins' Brook Mine contains one of the largest unconventional deposits of rare earth elements in the US. Early this year, the White House announced it plans to invest $32 million in domestic rare earth and other mineral projects.

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Persons: —, Randall Atkins, Atkins, Ramaco, REE, REEs, David Becker, Patty Webber, They're, haven't, Shannon Anderson Organizations: Wall Street, Service, Street Journal, Casper Star, Tribune, DOE's National Energy Technology Laboratory, International, Inc, Resources, Reuters, Geological Survey, Wyoming Public, Defense Department, White House, Sheridan Press Locations: Sheridan , Wyoming, Atkins, Wyoming, China