Ramaco Resources Inc. (NASDAQ: METC, METCB) announced its board of directors has authorized a strategic internal corporate reorganization to align the company's structure with its distinct business activities and asset portfolios.

The reorganization will divide the company into four separate subsidiaries, each initially 100% owned by Ramaco Resources Inc. The divisions include metallurgical coal production and sales operations, rare earth and critical mineral development and sales operations, royalty and infrastructure, and critical mineral refining and processing.

The metallurgical coal division will continue the company's established eastern United States metallurgical coal mining operations serving steel producers. The rare earth division will encompass development and sales from the Brook Mine near Sheridan, Wyoming, which the company states hosts deposits including scandium, gallium, germanium, and various rare earth elements.

The royalty and infrastructure division will hold mineral rights and infrastructure assets across eastern and western operations, generating revenue through royalty payments and infrastructure income from other divisions. The critical mineral refining division will handle future processing of rare earth feedstock using the company's carbochlorination processing technology.

Ramaco stated the reorganization aims to enhance operational focus, improve financial transparency for investors, and facilitate future financing opportunities for various business divisions, potentially including access to public capital markets for individual divisions.

The company expects to implement the reorganization through tax-efficient internal restructuring transactions. The reorganization is not expected to immediately change the company's publicly traded equity or its Nasdaq listing.

Ramaco operates metallurgical coal mining complexes in Central Appalachia and rare earth development operations in Wyoming. The company announced in 2023 that a deposit of rare earths and critical minerals was discovered at its Wyoming mine.