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                           March 8, 2023

       Randall W. Atkins
       Chairman and Chief Executive Officer
       Ramaco Resources, Inc.
       250 West Main Street, Suite 1900
       Lexington, Kentucky 40507

                                                        Re: Ramaco Resources,
Inc.
                                                            Amendment No. 4 to
Registration Statement on Form S-1
                                                            Filed February 22,
2023
                                                            File No. 333-267152

       Dear Randall W. Atkins:

             We have reviewed your amended registration statement and have the
following
       comments. In some of our comments, we may ask you to provide us with
information so we
       may better understand your disclosure.

              Please respond to this letter by amending your registration
statement and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your registration statement and
the information you
       provide in response to these comments, we may have additional comments.
Unless we note
       otherwise, our references to prior comments are to comments in our
February 17, 2023 letter.

       Amendment No. 4 to Registration Statement on Form S-1

       Estimated Cash Available for Dividends for the Quarters Ending June 30,
2023, September 30,
       2023 and December 31, 2023.
       Assumptions and Considerations, page 43

   1.                                                   We note your revised
disclosure in response to prior comment 1. You disclose that
                                                        you expect the Company
will achieve an increase in annual tons sold of 1.3 million, or
                                                        54%, to 3.7 million
tons of coal in the year ending December 31, 2023, and that 5% of
                                                        this increase in tons
sold will come from the Knox Creek Complex, specifically, as a
                                                        result of increased
production at the Big Creek Jawbone mine, which began production in
                                                        mid-2022. However, your
disclosure on page 5 states that CORE   s anticipated coal
                                                        royalties of
approximately $19 million in the year ending December 31, 2023 excludes
 Randall W. Atkins
Ramaco Resources, Inc.
March 8, 2023
Page 2
      production from the Knox Creek Complex and will be based on Ramaco
Resources
      annual sales of approximately 3.7 million tons of coal in 2023. Please
explain the
      disclosure or revise accordingly.
2.    We also note your disclosure that, as of December 8, 2022, the date of
its December 2022
      guidance update, the Company had approximately 60% of its forecasted
sales for the year
      ending December 31, 2023 under contract with either fixed or variable
prices. Where
      you do not currently have agreements in place underlying your assumption
regarding
      future sales, please make that clear and disclose the limitations on your
ability to pay
      dividends.
        You may contact Robert Babula, Staff Accountant, at 202-551-3339 or Gus
Rodriguez,
Staff Accountant, at 202-551-3752 if you have questions regarding comments on
the financial
statements and related matters. You may contact Ken Schuler, Mining Engineer,
at 202- 551-
3718 if you have questions regarding engineering comments. Please contact Irene
Barberena-
Meissner, Staff Attorney, at 202-551-6548 or Loan Lauren Nguyen, at
202-551-3642 with any
other questions.



                                                          Sincerely,
FirstName LastNameRandall W. Atkins
                                                          Division of
Corporation Finance
Comapany NameRamaco Resources, Inc.
                                                          Office of Energy &
Transportation
March 8, 2023 Page 2
cc:       Matthew R. Pacey, P.C.
FirstName LastName