#United States #Ramaco Resources #Lexington #Rare Earth Elements #Defense Industry

Ramaco Resources Joins DIBC: A Milestone for Domestic Mining

Ramaco Resources, Inc. has officially announced its membership in the Defense Industrial Base Consortium (DIBC), a significant step that aligns with its mission to fortify U.S. national security through domestic critical mineral resource development. The approval allows Ramaco to connect with a diverse network of defense contractors, research institutions, and federal agencies, aimed at advancing the production of rare earth elements (REEs) and crucial energy storage technologies.

The DIBC, supported by the U.S. Department of War, focuses on fostering collaboration among government bodies, industry players, and academic institutions to enhance the U.S. defense industrial base. Ramaco’s membership empowers the company to access federally funded research initiatives and production opportunities that are not only essential for the defense sector but also vital for the broader energy landscape in America.

Chairman and CEO Randall W. Atkins applauded the inclusion, stating, "This is a pivotal moment for us as we strive to bolster the domestic supply of critical minerals. Our effort is crucial in supporting the Department of War’s mission to secure the nation’s industrial base. We eagerly anticipate working alongside other consortium members to innovate solutions that will enhance national security and resiliency in our supply chains."

The DIBC’s objective is to ensure a robust and adaptable supply chain that can cater to national security needs while minimizing reliance on foreign sources. With ongoing global challenges, ensuring that the United States is capable of producing its critical materials domestically is more important than ever. Ramaco’s participation in this consortium is a testament to its commitment to aiding U.S. energy independence and defense readiness.

About Ramaco Resources

Ramaco Resources specializes in the operation and development of high-quality metallurgical coal while also venturing into rare earth and critical minerals production in Wyoming. The company is headquartered in Lexington, Kentucky, and has operational offices located in Charleston, West Virginia, and Sheridan, Wyoming. With four active metallurgical coal mining complexes and a developing mine specifically for rare earth elements in Wyoming, Ramaco is making significant strides in resource recovery.

In 2023, Ramaco uncovered a major deposit of primary magnetic rare earths near its Sheridan mine during exploratory drilling. This discovery is poised to position Ramaco at the forefront of meeting the increasing global demand for these materials, essential for various high-tech applications including battery production and defense technologies.

The company is also focusing on innovative carbon products and materials derived from coal, maintaining a robust intellectual property portfolio consisting of around 76 patents and licenses. This diversification not only enhances their product offerings but also strengthens their market position in the evolving landscape of mineral and energy resources.

Atkins stressed the long-term vision embodied within Ramaco’s strategy: "Our efforts extend beyond just mining; we are committed to developing advanced materials that will play a crucial role in the future of energy and technology. Through partnerships like the DIBC, we believe we can deliver on this vision effectively."

Looking Ahead

As Ramaco embarks on this collaborative journey with the DIBC, it aims to leverage its innovative capabilities and extensive resource network to face the challenges of tomorrow. From improving technological efficiency in mineral extraction to securing the supply chain's resilience, the company’s future endeavors will be pivotal in supporting not only U.S. defense priorities but also global industrial demands.

For further information about Ramaco Resources and its operations, visit their official website or contact their investor relations at (859) 244-7455.