https://www.miningweekly.com
Coal|Export|Resources|Surface
Coal|Export|Resources|Surface
coal|export|resources|surface

US coal miner Ramaco ups 2024 guidance

13th February 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

US-based metallurgical coal miner Ramaco Resources has raised its 2024 sales and production guidance, which it says reflects the strong market acceptance of the company's coal.

The Kentucky-headquartered firm, which has three mines in Central Appalachia and one development mine in Wyoming, increased its 2024 base level sales guidance to between 4.2-million and 4.6-million tons, up from 4.1-million to 4.6-million tons previously.

In early December, Ramaco committed an additional 1.8-million tons for sale into export markets in 2024, taking its total commitment for delivery this year to 3.8-million tons. This comprises 1.5-million tons committed to North American customers at an average realised price of $167/t and an additional 2.3-million tons committed at mostly index-linked pricing for delivery to export customers.

This level of sales would be 96% of the low-end of Ramaco’s original 2024 production guidance of 3.9-million tons.

The miner’s new production guidance for the year is between 4.0-million and 4.4-million tons.

Depending on continued market conditions, Ramaco says it believes that an annual sales run-rate level of about five-million tons may be achievable by the end of the year.

A five-million-ton annualized run-rate would represent a year-over-year increase in sales of roughly 1.5-million tons, or roughly 40%, above 2023 levels.

Meanwhile, Ramaco reported that it had purchased a coal preparation plant for $3-million that it will relocate to the Maben complex, in Wyoming.

This will reduce the cost of trucking raw coal production from Maben to the Berwind preparation facility and also provide the optionality to have a preparation facility to handle additional future production from a deep mine complex at Maben.

The plant has a current maximum processing capacity of 1.85-million raw tons, or 0.8-million clean tons, a year. With modest upgrades, the processing capacity can be increased to 1.3-million clean tons a year. 

The plant should be operational by the fourth quarter.

Maben is currently producing at a run-rate of more than 250 000 t/y from its surface and highwall mine, which with potential additions in 2024 may increase to about 325 000 t.

Edited by Creamer Media Reporter

Comments

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 12 April 2024
Magazine round up | 12 April 2024
12th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:2.783 2.873s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: