Ramaco Resources, Inc.

Ramaco Resources, Inc. is a Delaware corporation formed in October 2016, operating as a dual platform critical mineral company. The company is an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia and southwestern Virginia, and a developing producer of coal, rare earth elements, and critical minerals in Wyoming. Its principal corporate and executive offices are in Lexington, Kentucky, with operational offices in Charleston, West Virginia, and Sheridan, Wyoming. The metallurgical coal development portfolio includes the Elk Creek, Berwind, Knox Creek, and Maben properties. These properties are believed to offer geologic and logistical advantages, making the coal among the lowest delivered-cost U.S. metallurgical coal for domestic customers, North American blast furnace steel mills and coke plants, and international metallurgical coal consumers. The company maintains 85 million reserve tons and 1,337 million measured and indicated resource tons of high-quality metallurgical coal. In mid-2025, Ramaco initiated development of its rare earth element and critical mineral operations near Sheridan, Wyoming, known as the Brook Mine. The Brook Mine initially produced representative ore material for testing to demonstrate the viability of processing rare earth elements and critical minerals at a full-scale commercial facility and to establish mineral reserves and resources. Contiguous to the Brook Mine, the company operates a carbon research facility focused on producing advanced carbon products and materials from coal. The company's operations are organized into two reportable segments: Metallurgical Coal and Rare Earths and Critical Minerals.