Tech

Businessman Buys Coal Mine for $2M—Learns It’s Worth Billions

CASH DEPOSIT

It turns out it contains a motherlode of rare-earth elements used in technology.

Rare-earth element
Alexander Stein/ullstein bild via Getty

A tycoon’s son who bought an old coal mine in Wyoming for $2 million has discovered he might be sitting on a massive mountain of cash. It turns out the mine contains rare-earth elements needed for a variety of technology applications, including electric vehicles. The Wall Street Journal says Randall Atkins, a former banker whose father Orin founded Ashland Oil, estimates the deposit could be worth as much as $37 billion at current prices.

Read it at The Wall Street Journal

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