Ramaco names van Wyk as SVP of critical minerals processing

LEXINGTON - Ramaco Resources, Inc. (NASDAQ:METC, METCB), a $2.27 billion market cap company whose stock has surged over 230% in the past year, announced Monday that Martin van Wyk will join the company as Senior Vice President of Critical Minerals Processing, relocating from Australia to the United States.

Van Wyk brings over 23 years of global experience in mineral processing, hydrometallurgy, and rare earth elements flowsheet development. He will lead the company's critical minerals processing development at the Brook Mine Project in Wyoming.

Prior to this appointment, van Wyk served as a process subject matter expert for Ramaco's project while working for an independent engineering firm. His responsibilities included designing test work, reviewing results, and optimizing flowsheet development for the Brook Mine.

"Martin's depth of experience in rare earth and critical mineral processing is unmatched," said Randall W. Atkins, Chairman and CEO of Ramaco Resources, in a press release statement.

Van Wyk previously held senior engineering roles at various companies including RockTech Lithium, Wave International, Iluka Resources, and Anglo American. He holds a Master of Engineering in Chemical Engineering from Curtin University and a Bachelor of Engineering in Metallurgical Engineering from the University of Pretoria.

Ramaco Resources operates metallurgical coal mining complexes in Central Appalachia and is developing a rare earth and coal mine near Sheridan, Wyoming. With revenue of $626 million in the last twelve months and operating with a current ratio of 1.36, the company announced the discovery of a major deposit of primary magnetic rare earths and critical minerals at its Wyoming site in 2023.

In other recent news, Ramaco Resources has closed a significant public offering of Class A common stock, raising approximately $200 million in gross proceeds. The company sold 10,666,667 shares at a price of $18.75 each, with an additional option for underwriters to purchase up to $30 million more, which has been fully exercised. Lucid Capital Markets has initiated coverage on Ramaco Resources with a Buy rating, citing the company's strong position in metallurgical coal mining and potential for production growth. Benchmark has also reiterated its Buy rating for Ramaco Resources, following discussions with the company's senior management team.

Additionally, Ramaco Resources has made notable appointments to its board and foundation. Jessica Graney has been appointed to the Ramaco Foundation Board of Directors, coinciding with an additional $500,000 contribution to the Foundation. Mike Graney has been appointed as an independent member of the company's Board of Directors, bringing experience from his previous role in West Virginia's Department of Economic Development. These developments reflect ongoing strategic and governance efforts within the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.