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US miner Ramaco declares force majeure on Elk Creek high-vol coking coal shipments

Pittsburgh — US miner Ramaco Resources said Thursday that it has declared force majeure this week on Elk Creek high-vol coking coal shipments for customers expected to be receiving material under existing contracts and sales.

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Ramaco confirmed the force majeure to customers for remaining 2018 tons while stating that 2019 sales volumes were not affected, after warning Tuesday of the likelihood of prolonged shipment disruption due to damage to a silo key to processing its coal. The company is operating its mines as usual for now, it said.

The silo was needed to store raw coal for washing into its high-vol Elk Creek coking coal product.

Ramaco will build a new conveying system to the Elk Creek preparation plant from an existing stockpile area at the West Virginia complex, the company said late Wednesday, without advising on a timeframe.

The damaged silo was the largest of three on site, with 2,000 st capacity, and Ramaco has over 350,000 st of raw coal storage capacity at Elk Creek, it said.

The two remaining silos have no structural damage but, due to the connected infrastructure, they are not immediately able to be reactivated, it said. The damaged silo must be taken down and replaced.

--Hector Forster, hector.forster@spglobal.com

--Edited by James Leech, james.leech@spglobal.com

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