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July 14, 2020

Ramaco announces partial closure of Berwind mine complex in Virginia

Metallurgical coal producer Ramaco Resources has announced the partial closure of its Berwind low-volatile development mine complex to align its production with the weakened coal market.

Metallurgical coal producer Ramaco Resources has announced the partial closure of its Berwind low-volatile development mine complex to align its production with the weakened coal market.

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The mine complex is located on the border of Virginia and West Virginia.

According to the company, the move will affect about 44 miners and the personnel reductions were effective immediately.

Ramaco executive chairman Randall Atkins said: “The continued deterioration of both the domestic and export metallurgical coal markets, driven in large part by the Covid-19 pandemic have led us to make this difficult decision.

“We remain committed to the completion of our Berwind slope development to full capacity when the market has more clarity. We want to recognise the efforts of all of our coal miners who have advanced this project to date.”

Production at the Berwind property began in late 2017.

Ramaco president and CEO Michael Bauersachs said: “We believe that ultimately the Berwind mine will be amongst the lowest cost, high-quality low volatile coal in the Central Appalachian region.

“Once the coal markets stabilize and return to rational pricing levels, the full development and production at the Berwind mine can be restarted.”

Ramaco operates and develops low cost metallurgical coal in southern West Virginia, southwestern Virginia as well as southwestern Pennsylvania. It has executive offices in Lexington city of Kentucky and operational offices in Charleston, West Virginia.

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Dig deeper with our mining equipment forecasts

As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
by GlobalData
Enter your details here to receive your free Report.

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