Ramaco Resources Business Summary

Ramaco Resources, Inc. (METC) operates as a pure-play producer and developer of high-quality, low-cost metallurgical coal, primarily serving the global steelmaking industry through transaction-based sales to domestic and international blast furnace steel producers. The company’s revenue model is anchored by its primary Metallurgical Coal segment, which manages four active mining complexes in Central Appalachia (Elk Creek, Berwind, Knox Creek, and Maben). Strategically, Ramaco is pivoting into a dual-commodity model by developing its Critical Minerals segment at the Brook Mine in Wyoming, which contains one of the largest unconventional deposits of rare earth elements (REEs) in the United States. In the competitive landscape, Ramaco contends with larger industry incumbents such as Alpha Metallurgical Resources, Arch Resources, and Warrior Met Coal. While smaller in scale, Ramaco distinguishes itself through a first-quartile position on the U.S. metallurgical coal cost curve and its unique strategic transition toward becoming a vertically integrated domestic supplier of critical minerals for the defense and technology sectors. Founded in 2011 by Randall W. Atkins and Michael Bauersachs, the company is led by Chairman and CEO Randall W. Atkins, a veteran of energy finance and law with over 35 years of experience in the sector. The executive team includes Jeremy R. Sussman as Executive Vice President and CFO, and Evan H. Jenkins, a former U.S. Congressman and Chief Justice of the West Virginia Supreme Court, who serves as Vice-Chairman. Technical and operational leadership is provided by Christopher L. Blanchard (EVP of Mine Planning and Development) and Paul B. Horn Jr. (EVP of Mine Operations), while E. Forrest Jones, Jr. serves as General Counsel. The company’s board and investor base feature notable industry figures such as Bryan H. Lawrence, co-founder of Yorktown Partners, reflecting a pedigree rooted in private equity and institutional energy investment. As of early 2026, the leadership remains focused on a $100 million capital return program and the commercialization of its REE assets, recently bolstered by Atkins' appointment to the National Coal Council.