XML 29 R17.htm IDEA: XBRL DOCUMENT v3.20.2
Note 11 - Related Party Transactions
9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
RELATED PARTY TRANSACTIONS

NOTE 11—RELATED PARTY TRANSACTIONS

Much of the coal reserves and surface rights that we control were acquired through a series of mineral leases and surface rights agreements with Ramaco Coal, LLC, a related party. Production royalty payables totaling $0.4 million and $0.5 million at September 30, 2020 and December 31, 2019, respectively, were included in accounts payable in the consolidated balance sheets. Royalties paid to Ramaco Coal, LLC in the three and nine months ended September 30, 2020 totaled $1.0 million and $3.3 million, respectively. In the three and nine months ended September 30, 2019, royalties paid to Ramaco Coal, LLC totaled $2.1 million and $7.4 million, respectively.