Ramaco Resources backed-Ramaco Development to acquire Ramaco Coal from Yorktown Partners for $60m.

Ramaco Resources backed-Ramaco Development, a producer of metallurgical coal, agreed to acquire Ramaco Coal, an investment fund, from Yorktown Partners, a property management company, for $60m. Ramaco Coal primarily consists of land holding and coal royalty producing subsidiaries, including fee ownership of approximately 42m tons of metallurgical coal reserves. The vast majority of Ramaco Coal's holdings are currently leased to the Company. Merging the Ramaco Coal land and royalty interests into the Company will have a positive financial impact on the Company's central Appalachian coal mining operations. The Acquisition will allow the Company to avoid ongoing minimum royalty and tonnage royalty expense for the entire life of the acquired reserves, providing significant near and long-term financial benefit and ensuring that the Company remains among the lowest cost producers of metallurgical coal in the U.S. for the foreseeable future.