Form SD - Specialized disclosure report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM SD

SPECIALIZED DISCLOSURE REPORT

Ramaco Resources, Inc.

(Exact name of registrant as specified in its charter)


Delaware	001-38003	38-4018838
(State or other jurisdiction of	(Commission	(IRS Employer
incorporation)	File No.)	Identification No.)

250 West Main Street, Suite 1900

Lexington, Kentucky 40507

(Address of principal executive offices)

Jeremy R. Sussman

(859) 244-7455

(Name and telephone number, including area code, of the person to contact in connection with this report)

Check the appropriate box to indicate the rule pursuant to which this form is being filed:

☐ Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, ____.

☒ Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2023.

SECTION 2 – Resource Extraction Issuer Disclosure

Item 2.01 Resource Extraction Issuer Disclosure and Report

Disclosure of Payments by Resource Extraction Issuers

The specified payment disclosure required by this Form is included as Exhibit 2.01 to this Form SD.

This report discloses payments made by Ramaco Resources, Inc., including its consolidated subsidiaries, during the fiscal year ended December 31, 2023, to the United States federal government or a foreign government for the purpose of the commercial development of oil, natural gas, or minerals. Payments made to state governments are not included.

Ramaco Resources, Inc. (the “Company” or “we”) is an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia and southwestern Virginia. We also control mineral deposits near Sheridan, Wyoming as part of the Company’s initiatives regarding the potential recovery of rare earth elements and critical minerals as well as the potential commercialization of coal-to-carbon-based products and materials.

All activities within each state have been treated as a single project for reporting purposes. Pursuant to Item 2.01(b)(1) of Form SD, we are delaying disclosing payment information for exploratory activities and related programs conducted in Wyoming for which commercialization has not yet occurred until our Form SD submitted for the fiscal year ending December 31, 2024, which is the fiscal year immediately following the fiscal year in which the payments were made.

SECTION 3 – Exhibits

Item 3.01 Exhibit


Exhibit Number		Exhibit Description
2.01		Interactive Data File (Form SD for the year ended December 31. 2023 filed in XBRL).
99.1		Resource Extraction Payment Report as required by Item 2.01 of this Form.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


		RAMACO RESOURCES, INC.

	By:	/s/ Jeremy R. Sussman
	Name:	Jeremy R. Sussman
	Title:	Chief Financial Officer

Date:September 25, 2024

Exhibit 99.1

Resource Extraction Payment Report
Ramaco Resources, Inc.
					Payment Amount (in USD) By Payment Type
*Segment (or Entity Level )**	Project / Subnational Political Jurisdiction	Resource / Method of Extraction	Governmental Recipient	Payment Description	Taxes	Royalties	Fees	Production Entitlements	Bonuses	Dividends	Payments for Infrastructure Improvements	Community and Social Responsibility Payments	Total	Fiscal Year

Ramaco Resources, Inc.^(*)	Not applicable^(*)		U.S. federal government	Federal income taxes ^(*)	$400,000								$400,000	2023

Appalachian Coal Operations	Virginia	Coal / Underground and open pit
			U.S. federal government	Black lung excise taxes	$86,319								$86,319	2023
			U.S. federal government	Reclamation fees			$94,268						$94,268	2023
	Subtotal for Virginia activities		U.S. federal government		$86,319	$0	$94,268	$0	$0	$0	$0	$0	$180,587	2023

Appalachian Coal Operations	West Virginia	Coal / Underground and open pit
			U.S. federal government	Black lung excise taxes	$516,099								$516,099	2023
			U.S. federal government	Reclamation fees			$291,336						$291,336	2023
	Subtotal for West Virginia activities		U.S. federal government		$516,099	$0	$291,336	$0	$0	$0	$0	$0	$807,435	2023

Total			U.S. federal government		$1,002,418	$0	$385,604	$0	$0	$0	$0	$0	$1,388,022	2023


Summary of payments to the U.S. federal government				Federal income taxes									$400,000	2023
				Black lung excise taxes									$602,418	2023
				Reclamation fees									$385,604	2023
													$1,388,022

^(*) The U.S. federal government levies corporate income taxes at the consolidated group level rather than on a per-project basis. The reported amount of federal income taxes paid excludes the U.S. federal income tax refund of $11,758,222 received during 2023.

All payments above were made in U.S. dollars

Document Information	12 Months Ended
Document Information	Dec. 31, 2023
Document Information:
Document Type	2.01 SD
Amendment	false
CIK	0001687187
Registrant Name	Ramaco Resources, Inc.
Period End Date	Dec. 31, 2023
Reporting Currency	USD

Payments, by Category - USD ($)	Taxes	Fees	Total Payments
Total	$ 1,002,418	$ 385,604	$ 1,388,022

Payments, by Project - 12 months ended Dec. 31, 2023 - USD ($)	Taxes	Fees	Total Payments
Total	$ 1,002,418	$ 385,604	$ 1,388,022
Entity Level
Total	400,000		400,000
Virginia
Total	86,319	94,268	180,587
West Virginia
Total	$ 516,099	$ 291,336	$ 807,435

Payments, by Government - 12 months ended Dec. 31, 2023 - USD ($)	Taxes	Fees	Total Payments
Total	$ 1,002,418	$ 385,604	$ 1,388,022
U.S. \| U.S. federal government
Total	$ 1,002,418	$ 385,604	$ 1,388,022

Payments, Details - 12 months ended Dec. 31, 2023 - USD ($)	Amount	Type	Country	Subnat. Juris.	Govt.	Project	Resource	Segment	Ext. Method
#: 1
	$ 400,000	Taxes	U.S.		U.S. federal government	Entity Level	metc:ResourceCoalMember	metc:RamacoResourcesIncOperationsMember	Underground Mining
#: 2
	86,319	Taxes	U.S.	snj:US-VA	U.S. federal government	Virginia	metc:ResourceCoalMember	metc:AppalachianCoalOperationsMember	Underground Mining
#: 3
	94,268	Fees	U.S.	snj:US-VA	U.S. federal government	Virginia	metc:ResourceCoalMember	metc:AppalachianCoalOperationsMember	Underground Mining
#: 4
	516,099	Taxes	U.S.	snj:US-WV	U.S. federal government	West Virginia	metc:ResourceCoalMember	metc:AppalachianCoalOperationsMember	Underground Mining
#: 5
	$ 291,336	Fees	U.S.	snj:US-WV	U.S. federal government	West Virginia	metc:ResourceCoalMember	metc:AppalachianCoalOperationsMember	Underground Mining