Shares of Ramaco Resources (METC) opened the session higher Monday when the coal miner announced that former West Virginia Governor and Senator Joe Manchin was named to董事会。 However, after the initial jump, shares turned lower along with the rest of the market.
The Lexington, Ky.-based company, which has operations in southern West Virginia, explained that Manchin has "a deep understanding of the issues facing the U.S. coal industry," and that "he has been a steadfast advocate for metallurgical coal and the wider U.S. mining industry."
Ramaco added that Manchin's experience in al defense以及关键的矿产供应链#34;brings valuable strategic advice and guidance" as the firm advances its efforts to extract rare earth elements in Wyoming.
Manchin explained that having grown up in Farmington, West Virginia, he has seen "firsthand how coal shaped communities and powered our ."
The move came just weeks after President Donald Trump took steps to boost the coal industry, signing an executive order that designated coal as a “矿产”并为煤矿开放了联邦土地。
Ramaco Resources股票今年迄今已下跌约6％。
