Record Mine Production
Ramaco achieved a quarterly record with 1 million tons of met coal produced, despite challenging weather conditions affecting output by 150,000 tons.
High Cash Margins and Sales Price
Ramaco reported the highest cash margins per ton and the highest realized sales price among its peers, despite a challenging market environment.
Initiation of Rare Earth Project
Ramaco announced the initiation of large-scale mining at the Brook Mine, marking it as the first new rare earth mine in the U.S. in over 70 years.
Addition of Key Personnel
Mike Woloschuk was added to the senior management team from Fluor Corporation to oversee the critical minerals project.
Improved CapEx Guidance
CapEx guidance was reduced from $60-70 million to $55-65 million due to optimized production strategies.