Ramaco Resources, Inc. Announces New Vice President for Metallurgical Sales

Rhea-AI Summary

Ramaco Resources (NASDAQ: METC) announced the appointment of Bruce A. Hartshorn as Vice President – Metallurgical Sales of Ramaco Coal Sales, LLC, effective May 18, 2021. Hartshorn brings over 40 years of coal sales and marketing experience, previously serving as Executive Vice President at Contura Energy. His role will focus on expanding seaborne sales, logistics, and product optimization. The Company is in a growth phase, aiming to increase its metallurgical production by nearly 50 percent. Ramaco operates five active mines in the U.S., enhancing its position in the metallurgical coal market.

Positive

• Appointment of Bruce A. Hartshorn, enhancing sales and marketing expertise.
• Hartshorn's experience includes managing a met coal portfolio of 24 million tons.
• Company anticipates a nearly 50% increase in metallurgical production.

Negative

• None.

LEXINGTON, Ky., May 18, 2021 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC) ("Ramaco" or the "Company") today announced the appointment of Bruce A. Hartshorn as Vice President – Metallurgical Sales of Ramaco Coal Sales, LLC. 

Mr. Hartshorn will manage the Company's seaborne sales and marketing operations from its Lexington, Kentucky office, with additional responsibilities involving logistics, third-party coal purchasing, and product optimization, while assisting in all other aspects of the Company's coal sales and marketing. 

Mr. Hartshorn brings to Ramaco more than four decades of coal sales and marketing experience, as well as an extensive background in logistics, coal purchasing and trading, and production and development. Prior to joining Ramaco, he has spent the past four years as a consultant to companies in the U.S. metallurgical coal industry. 

Prior to his work as a consultant, Mr. Hartshorn spent several years at the former Contura Energy (now Alpha Metallurgical Resources) and its predecessor Alpha Natural Resources. His most recent position was as an Executive Vice President of Contura Energy and President of Contura Coal Sales, LLC. 

During his time at Contura Energy and Alpha Natural Resources, Mr. Hartshorn was responsible for the sales and marketing of a met coal portfolio that reached a peak annual volume of 24 million tons and served customers in the U.S. and 26 other countries.

"Bruce is one of the best in the business, and we couldn't be more pleased to have him on board during this exciting period of growth for the Company," said Randall Atkins, Ramaco's Chairman and Chief Executive Officer.

Jason Fannin, Ramaco's Chief Commercial Officer, stated, "I am thrilled to have Bruce join our team at Ramaco.  His extensive experience in all aspects of coal sales and marketing complements Ramaco's growing production and metallurgical coal portfolio. He will further strengthen Ramaco's overall sales and marketing platform as we continue to expand our customer base in the U.S. and abroad."

Mr. Hartshorn stated, "I am excited to be joining Ramaco during a transformative time, with the Company having recently announced the start of growth projects which will increase its metallurgical production by nearly 50 percent. Ramaco has grown into a world-class supplier of metallurgical coal and I look forward to helping further the Company's sales and marketing efforts."

About Ramaco Resources, Inc.
Ramaco Resources, Inc. is an operator and developer of metallurgical coal in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Its executive offices are in Lexington, Kentucky, with operational offices in Charleston, West Virginia. The Company has five active mines operating from two mining complexes at this time.

News and additional information about Ramaco Resources, including filings with the Securities and Exchange Commission, are available at https://www.ramacoresources.com.

Contact:

Phone: 859-244-7455
E-mail: info@ramacocoal.com

 

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SOURCE Ramaco Resources, Inc.

FAQ

Who is the new Vice President of Metallurgical Sales at Ramaco Resources?

Bruce A. Hartshorn has been appointed as Vice President – Metallurgical Sales.

What are Bruce A. Hartshorn's qualifications?

He has over 40 years of coal sales and marketing experience, including a role as Executive Vice President at Contura Energy.

How much will Ramaco increase its metallurgical coal production?

Ramaco plans to increase its metallurgical production by nearly 50 percent.

What is Ramaco Resources' ticker symbol?

The ticker symbol for Ramaco Resources is METC.

When was the press release about Bruce A. Hartshorn's appointment issued?

The press release was issued on May 18, 2021.