Ramaco Resources, Inc. Announces New Leadership Structure to Accelerate Growth
May 23, 2024 at 04:15 pm
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Ramaco Resources, Inc. announced 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. 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.
Ramaco Resources, Inc. is a metallurgical coal company. The Company operates and develops metallurgical coal in southern West Virginia and southwestern Virginia. Its development portfolio primarily includes four properties: Elk Creek, Berwind, Knox Creek, and Maben. Its operations include six active mines at its Elk Creek mining complex, three active mines at its Berwind mining complex, two active mines at its Knox Creek mining complex, and one active mine at its Maben mining complex. The Elk Creek property consists of approximately 20,200 acres of controlled mineral rights and contains approximately 16 seams that it has targeted for production. The Berwind property consists of approximately 62,500 acres of controlled mineral rights. The Knox Creek Complex includes a preparation plant and 64,050 acres of controlled mineral rights. The Maben property is located in southern West Virginia and consists of approximately 28,000 acres of controlled mineral rights.