Rameco Resources Inc

Ramaco Resources, Inc. is a U.S. metallurgical coal producer focused on steel production inputs. The company has coal mining operations and growth projects located across West Virginia and Virginia and mines metallurgical coal which is used as a key component in blast furnace production of steel. 

Ramaco currently operates two coal processing complexes, Elk Creek and Knox Creek, for which the company achieved its original long-term goal of achieving 4 million tons of annualized sales in 3Q23. The company also controls additional permitted reserves which could support further production growth to approximately 6.5 million tons per year in the medium-term.

The Elk Creek mining complex is the company's flagship asset located in southern West Virginia. Elk Creek encompasses multiple mines and preparation plants and accounts for the majority of Ramaco's production and growth projects. The Knox Creek mining complex located in Virginia was acquired in 2021 and contributed roughly 15% of 2022 output. The recently acquired Berwind mine in West Virginia is the latest growth project that is expected to ramp up production over 2023-2024.

In addition to met coal resources, Ramaco recently announced an unconventional deposit of rare earth elements contained in clay deposits at its Brook mine in Wyoming. While early stage, Ramaco believes this rare earth discovery could become a promising domestic source of materials essential for permanent magnets and electric vehicles while targeting further evaluation of the size and quality of the deposit.