Ramaco Resources joins Defense Industrial Base Consortium

Ramaco Resources Inc. (NASDAQ: METC, METCB) announced its approval as a member of the Defense Industrial Base Consortium, according to a company press release.

The consortium membership provides Ramaco access to federally funded research, prototyping and production opportunities in areas including rare earth elements, strategic materials and energy storage technologies. The company will join a network of defense contractors, research institutions and federal agencies.

"Ramaco's inclusion in the DIBC is a significant step forward in our efforts to contribute to the domestic supply of critical minerals essential for defense and energy technologies," said Randall W. Atkins, chairman and chief executive officer of Ramaco Resources.

The Defense Industrial Base Consortium is a U.S. Department of Defense sponsored initiative designed to strengthen the domestic defense industrial base through collaboration between government, industry and academia. The consortium aims to build supply chain capabilities that reduce reliance on foreign sources for national security needs.

Ramaco Resources operates metallurgical coal mines in West Virginia and Virginia, along with a developing rare earth and coal mine in Wyoming. In 2023, the company reported discovering a deposit of magnetic rare earths and critical minerals at its Wyoming location. The company holds approximately 76 intellectual property patents, pending applications and licensing agreements related to advanced carbon products and materials.

The company's executive offices are located in Lexington, Kentucky, with operational offices in Charleston, West Virginia and Sheridan, Wyoming.

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