Ramaco Resources Inc
NASDAQ:METC
Ramaco Resources Inc
Ramaco Resources, Inc. engages in the operation and development of coal mining properties. The company is headquartered in Lexington, Kentucky and currently employs 454 full-time employees. The company went IPO on 2017-02-03. The firm operates and develops metallurgical coal in southern West Virginia, southwestern Virginia, and southwestern Pennsylvania. Its development portfolio primarily includes four properties: Elk Creek, Berwind, RAM Mine and Knox Creek. The Elk Creek property consists of approximately 20,166 acres of controlled mineral rights and contains 25 seams that it has targeted for production. The company operates three deep mines and a surface mine at its Elk Creek mining complex. The Berwind property consists of approximately 31,200 acres of controlled mineral rights and is located on the border of West Virginia and Virginia. The Knox Creek property consists of approximately 62,100 acres of controlled mineral rights. Its RAM Mine property is located in southwestern Pennsylvania, consists of approximately 1,570 acres of controlled mineral rights.
Ramaco Resources, Inc. engages in the operation and development of coal mining properties. The company is headquartered in Lexington, Kentucky and currently employs 454 full-time employees. The company went IPO on 2017-02-03. The firm operates and develops metallurgical coal in southern West Virginia, southwestern Virginia, and southwestern Pennsylvania. Its development portfolio primarily includes four properties: Elk Creek, Berwind, RAM Mine and Knox Creek. The Elk Creek property consists of approximately 20,166 acres of controlled mineral rights and contains 25 seams that it has targeted for production. The company operates three deep mines and a surface mine at its Elk Creek mining complex. The Berwind property consists of approximately 31,200 acres of controlled mineral rights and is located on the border of West Virginia and Virginia. The Knox Creek property consists of approximately 62,100 acres of controlled mineral rights. Its RAM Mine property is located in southwestern Pennsylvania, consists of approximately 1,570 acres of controlled mineral rights.
Liquidity Record: Ramaco ended Q3 with record liquidity of $272 million, up over 237% year-on-year, and net cash of $77 million.
Rare Earths Expansion: The company accelerated its transition into rare earths, targeting full commercial oxide production at the Brook Mine by 2028, with projections of over $500 million EBITDA and a $5 billion NPV.
Scandium Pricing Upside: Recent U.S. government deals for scandium were signed at $6.25 million/ton, 67% higher than prior estimates, highlighting strong Western demand and decoupling from Chinese prices.
Met Coal Headwinds: Metallurgical coal markets remain weak due to oversupply and depressed prices; Ramaco is further trimming production guidance and minimizing growth CapEx in met coal.
Cost Leadership: Q3 cash cost per ton was $97, with September costs as low as $86 per ton, placing Ramaco among the lowest-cost U.S. met coal producers.
Pilot Plant Progress: The rare earths pilot plant construction is underway, with operations expected to start in 2026 and focus on process de-risking and scale-up.
Guidance Updates: Full year 2025 production and sales guidance were lowered slightly due to market conditions, but all other guidance remains largely unchanged.
