Business
Ramaco Hires Director of Critical Minerals and Planning to Oversee Company's Rare Earth Element Development
Dr. Alex Moyes brings unique experience in rare earth mining, geoscience, operations management, and data-driven production SHERIDAN, Wyo., Jan. 22, 2024
About this update from Ramaco Resources, Inc.
[{"type":"text","content":"Dr. Alex Moyes brings unique experience in rare earth mining, geoscience, operations management, and data-driven production\nSHERIDAN, Wyo., Jan. 22, 2024 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC) announced today it has hired Dr. Alex Moyes as director of Critical Minerals and Planning to oversee the company's expanding rare earth element (REEs) operations.\n\nDr. Moyes will work with Ramaco's existing research team to manage the geological and chemical assessment of REEs located at Ramaco's Brook Mine near Sheridan, Wyoming, as well as the planning and execution of the eventual extraction of these elements. Moyes's hiring represents Ramaco's next phase in the development of these resources.\nLast year, Ramaco announced that its Brook Mine may contain the largest unconventional deposit of REEs discovered to date in the United States and is found in coal and related carbon strata. The company has been developing the extent of the REE deposit over the past several years in association with government researchers from the Department of Energy's National Energy Technology Laboratory (\"NETL\") and analysts at mining consultancy Weir International.\nInitial findings have determined that the Brook Mine deposit contains levels of high concentrations of heavy and medium magnetic REEs. These are used in applications that include advanced military and electronic technologies, high-capacity batteries, semiconductors and more.\nTesting and analysis on the deposit has been conducted on an ongoing basis over the past few years by third-party consultants and government researchers. An interim update to Weir's May 2023 technical report on the rare earth exploration target will be released in the near future.\nMoyes brings a deep background in operations management and data-driven production to his new position, including formerly as Director of Geoscience and Engineering at Dominion Energy. His roles there included managing all subsurface planning, production engineering, and operations for numerous natural gas and oil fields, including establishing production plans and overseeing drilling programs. He also served as the company's Director of Innovation, where he led teams that performed advanced techno-economic analysis on the development of energy technology systems including oversight of all new business technologies.\nMost recen...