Ramaco Resources, Inc. (NASDAQ: METC) announced a $500 million amendment to its revolving credit agreement with KeyBank, N.A. The new facility comprises a $350 million revolving commitment and a $150 million accordion feature, replacing the prior $200 million commitment and $75 million accordion. The maturity has been extended from 2029 to 2030, giving the company a longer horizon to deploy capital.
The expansion is intended to support Ramaco’s dual‑platform strategy: its metallurgical coal operations in Appalachia and the Brook Mine rare‑earth development program in Wyoming. The company has been investing heavily in the Brook Mine pilot facility, which is expected to become the first U.S. source of critical rare‑earth elements derived from coal‑based feedstock. The additional credit capacity provides the liquidity needed to accelerate construction, secure working capital, and maintain operational flexibility as the company scales both segments.
Ramaco’s recent financials show that its metallurgical coal business generated $1.2 billion in revenue last year, while the Brook Mine project has incurred $200 million in development costs. The new credit line will be allocated proportionally, with a larger share earmarked for the Brook Mine to cover equipment, permitting, and initial production costs, while the coal segment will use the facility to manage seasonal inventory and market‑price volatility. This allocation aligns with management’s focus on sustaining coal sales while positioning the company as a critical‑materials supplier.
CEO Randall Atkins emphasized that the strengthened partnership with KeyBank “provides a solid foundation for disciplined growth in our metallurgical coal business, return capital to shareholders, and advance our Brook Mine critical‑material development.” He added that the expanded facility “ensures we have the financial flexibility to pursue strategic opportunities and navigate market headwinds.”
The amendment is part of a broader capital‑market activity that has seen Ramaco secure nearly $1 billion in financing since August 2025, including debt issuances and equity placements. The deepening relationship with KeyBank, a long‑time lender since 2018, signals lender confidence in Ramaco’s execution and the long‑term viability of its dual‑platform model. The company’s ability to secure this credit expansion amid a competitive financing environment underscores its strong balance sheet and strategic positioning in both the coal and rare‑earth sectors.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.