Dr. Alex Moyes
brings unique experience in rare earth mining, geoscience,
operations management, and data-driven production
SHERIDAN, 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.
Dr. 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.
Last 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.
Initial 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.
Testing 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.
Moyes 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.
Most recently, Moyes served as Vice President of Economics and
Planning at FREYR Battery, a Norwegian company developing battery
cell production facilities. At the company he oversaw development
of techno-economic models related to raw material selection, global
exports, and production line equipment technology investments. He
also created the company's production, product, and supply chain
assessments and benchmarks.
"The Brook Mine will potentially be the first magnetic rare
earth element mine opened in the United
States in decades, and therefore presents an exciting but
formidable opportunity," said Randall Atkins, Chairman and CEO
of Ramaco. "Alex Moyes is a
brilliant geologist, manager, and engineer. We're proud he will be
joining us to work alongside the Department of Energy's national
laboratories to ensure the development path forward is built on a
solid scientific, geological, and techno-economic foundation."
Moyes holds numerous degrees from the University of Utah, including a Ph.D. in Mining
Engineering, a Master of Business Administration, a Master of
Science in Economic Geology, and a Bachelor of Science in
Geoscience. His doctoral dissertation involved the economic
analysis of in-situ mining of rare earths in Wyoming.
About Ramaco Resources, Inc.
Ramaco Resources, Inc. is
an operator and developer of high-quality, low-cost metallurgical
coal in southern West Virginia,
southwestern Virginia, and
southwestern Pennsylvania, as well as an emerging potential
producer of rare earth elements and critical minerals. Its
executive offices are in Lexington, Kentucky, with operational offices
in Charleston, West Virginia and Sheridan,
Wyoming. The Company currently has
three active mining complexes in Central Appalachia and
the Brook Mine in Sheridan, Wyoming, where the company and researchers
from the Department of Energy's National Energy Technology
Laboratory have discovered potentially world-class deposits of rare
earth elements. Contiguous to the Wyoming mine it
operates a research and pilot facility related to the production of
advanced carbon products and materials from coal. In connection
with these activities, it holds a body of roughly 50 intellectual
property patents, pending applications, exclusive licensing
agreements and various trademarks. For more information about us,
please visit our website at www.ramacoresources.com.
Points of Contact:
INVESTOR RELATIONS: info@ramacometc.com or 859-244-7455
MEDIA: press@ramacometc.com
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SOURCE Ramaco Resources, Inc.