Ramaco Resources
“Can a mid-size metallurgical coal producer successfully diversify into rare earth elements and critical minerals while maintaining first-quartile cost positioning in met coal?”
Founded in 2011 as a metallurgical coal developer focused on Central Appalachian properties, Ramaco went public on NASDAQ (METC, METCB) and grew into a leading low-cost met coal producer serving steelmaking customers globally. In parallel, its dormant Brook Mine acquisition in Wyoming unexpectedly surfaced rare earth elements, leading the company to pivot part of its strategy toward critical minerals and rare earth development — opening Brook Mine as the first new US rare earth mine in 70 years in 2025. The embedded finance angle is primarily traditional corporate treasury: revolving credit from KeyBank and supply chain finance from eCapital to manage long receivable cycles from large steel customers.