LEXINGTON, Ky., May 23, 2024
/PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC, METCB,
"Ramaco" or the "Company") announced today it has made several
leadership changes, aimed at supporting and accelerating the
Company's growth as it reaches new milestones. Ramaco became a
public company seven years ago and currently employs nearly 1,000
employees in operations located in West
Virginia, Virginia,
Kentucky and Wyoming.
To facilitate this growth, Ramaco has made several personnel
changes within its finance and operations groups.
In its finance and accounting group, Ramaco has realigned its
senior team to include three Executive Vice Presidents (EVP) who
will oversee various inter-related and overlapping aspects of its
financial affairs:
- Scott Spears has been
promoted to serve as an EVP for Planning and Analysis. He will
oversee all external audit and public reporting activities, as well
as IT and general financial and investment modeling.
- John Marcum will now focus on internal production
accounting and all mine related financial matters as EVP for
Production.
- Jeremy Sussman will continue as EVP and Chief
Financial Officer to oversee all general accounting and finance. He
will also focus more on investor relations as well as our new and
expanded development projects.
In its mining and operations group Ramaco has shifted
operational responsibilities among its senior executive mining team
in order to manage its expanding coal operations in the East as
well as the emerging critical mineral development project in the
West:
- Paul Horn will be
promoted to EVP for Mine Operations and assume day to day, on the
ground responsibility for mine activities in the East.
- Chris Blanchard will become EVP for Mine Planning and
Development. He will oversee the execution and planning of all new
coal production and infrastructure in the East. His new role will
also include the development of the rare earth Brook Mine in
Wyoming and its related processing
and refining infrastructure to support Ramaco's critical mineral
production.
- Toby Edwards will
continue as an SVP to oversee the development of the company's
Maben property in Southern West Virginia, acquired in 2022.
"We are rapidly growing not only in terms of numbers of
employees and production, but also direction. To process all of
this expansion, we are continually refining how we manage, staff,
and assign responsibilities," said Randall
Atkins, Chairman and CEO of Ramaco Resources. "We are proud
at the depth of the management talent at our entire senior level
and congratulate Paul and Scott for their new roles and
responsibilities. All of these new realignments at our senior level
will better enable us to manage our overall activities in this
rapidly changing environment."
Earlier this year, Ramaco initiated its leadership restructuring
with the hiring of four new additions to its executive team.
Jason Bragg was recently
hired as the new VP for Land working from Charleston, West Virginia. David Dyer was brought onto the team in
Lexington as VP for Marketing
& Analysis. Additionally, earlier this year Evan Jenkins was hired as Ramaco's new
General Counsel and Alex
Moyes as Director of Critical Minerals in Wyoming.
About Ramaco Resources, Inc.
Ramaco Resources,
Inc. is an operator and developer of high-quality, low-cost
metallurgical coal in southern West
Virginia and southwestern Virginia, as well as an emerging potential
producer of rare earth elements and critical minerals in
Wyoming. Its executive offices are
in Lexington, Kentucky, with
operational offices in Charleston, West
Virginia and Sheridan,
Wyoming. The Company currently has four active mining
complexes in Central Appalachia
and the Brook Mine in Sheridan,
Wyoming, where the company and researchers from the
Department of Energy's National Energy Technology Laboratory have
discovered potentially world-class deposits of rare earth elements
and critical minerals. Contiguous to the Wyoming mine Ramaco operates a research and
pilot facility related to the production of advanced carbon
products and materials from coal as well as a testing facility for
its rare earth production. In connection with these activities, it
holds a body of roughly 50 intellectual property patents, pending
applications, exclusive licensing agreements and various
trademarks. For more information about us, please visit our website
at www.ramacoresources.com. For more information, contact investor
relations at (859) 244-7455.
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SOURCE Ramaco Resources, Inc.