Ramaco Resources Reports Jury Verdict in Insurance Coverage Litigation

What Happened
Ramaco Resources, Inc. (through subsidiary Ramaco Resources, LLC) announced a jury verdict on September 25, 2026 in its insurance coverage litigation against Federal Insurance Company and ACE American Insurance Company. After a new trial on Hayseeds damages that began September 22, 2026, the jury awarded $2.5 million for aggravation and inconvenience and $27.5 million for net economic loss (total $30.0 million). The court entered judgment in accordance with the verdict; attorneys’ fees remain to be determined by the court.

Key Details

• Incident origin: partial collapse of a raw coal silo at the Elk Creek prep plant on November 5, 2018; Ramaco filed its insurance claim in 2019.
• Prior litigation history: a 2021 jury awarded $7.7M (contract damages) and $25.0M (Hayseeds); district court reduced awards in 2022, Fourth Circuit reinstated $7.7M and Hayseeds entitlement in July 2023 and remanded for a new trial on Hayseeds amount. Defendants previously paid the $7.7M compensatory portion in 2023.
• New-trial outcome (Sept 25, 2026): $2.5M (aggravation/inconvenience) + $27.5M (net economic loss) = $30.0M; attorneys’ fees to be decided by the court.
• Next steps: parties have 28 days from judgment to file post-trial motions; defendants will have 30 days after final judgment (or after resolution of timely post-trial motions) to file an appeal.

Why It Matters
This judgment represents a substantial recovery tied to the insurer’s wrongful delay in paying a 2019 claim and could result in a meaningful cash recovery for the company (the compensatory portion was already collected in 2023). However, the final financial impact is not yet settled because attorney’s fees have not been determined and defendants may file post-trial motions and/or appeal, which could alter the outcome or timing. Investors should monitor filings for the court’s fee award, any post-trial motions, and potential appeals that will affect timing and final collectible amounts.