Ramaco Resources to Acquire Coronado, Buchanan Mining Coal Reserves and Assets for $15 Million, Va.
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Ramaco Resources entered into an agreement to purchase coal reserves and related real property interests from Coronado and Buchanan Mining Company for $15 million.
The agreement includes the reserve area located partly in Russell, Buchanan, and Tazewell Counties, Virginia
The transaction, which is expected to close in November 2025, includes customary conditions and liabilities, potentially impacting Ramaco’s operational capabilities and market positioning in the coal industry.
This acquisition is part of Ramaco’s strategy to enhance its coal production capabilities. The company focuses on producing high-quality metallurgical coal, which is essential for steelmaking. The addition of these reserves is expected to strengthen its market position and support future growth initiatives.
Ramaco Resources is an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia and southwestern Virginia. Its executive offices are in Lexington, Kentucky, with operational offices in Charleston, West Virginia and Sheridan, Wyoming. The company currently has three active mining complexes in Central Appalachia and one mine not yet in production near Sheridan, Wyoming. Contiguous to the Wyoming mine it operates a research and pilot facility related to the production of advanced carbon products and materials from coal. In connection with these activities, it holds a body of roughly 60 intellectual property patents, pending applications, exclusive licensing agreements and various trademarks.
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