Cleveland-Cliffs Increases Spot Prices; Ramaco Resources Reports Financial Results; AngloGold Announces Board Change And More: Friday’s Top Mining Stories

Top Stories for March 8, 2024:
1. Cleveland-Cliffs Inc. (NYSE: CLF) is increasing spot market base prices for all carbon hot-rolled, cold-rolled and coated-steel products.

The minimum base price for hot-rolled steel is $840 per net ton, effective immediately for all new orders.

2. Ramaco Resources Inc. (NASDAQ: METC) announced fourth-quarter and full-year 2023 financial results.

In the fourth quarter, Ramaco reported $58.5 million in adjusted EBITDA, up from $45.4 million in Q3 2023, and a yearly adjusted EBITDA of $182.1 million, down from $204.6 million in 2022.

Net income for Q4 was $30 million, up from $19.5 million in Q3, and annual net income was $82.3 million, compared to $116 million in 2022.

The fourth quarter marked the strongest financial …

Full story available on Benzinga.com