- Range Impact (OTCQB: RNGE) expands its footprint at the Fola Mine Complex with the acquisition of two mining permits and two coal leases.
- The new permits come with an estimated $10.4 million reclamation obligation but are expected to generate several years of royalty income.
- The company has reduced its permit responsibilities by 10% within 90 days of its initial acquisition in March 2025.
Range Impact, Inc. (OTCQB: RNGE) has significantly expanded its operations at the Fola Mine Complex in West Virginia, following the acquisition of two mining permits and two coal leases. This strategic move, culminating in two separate transactions on June 30 and July 1, 2025, strengthens the company's investment in the site by adding new sources of potential revenue through royalty payments.
The newly acquired permits entail a substantial $10.4 million reclamation obligation. However, Range Impact plans to fund these obligations with royalty incomes derived from a surface coal lease acquired from WV Reclaim Co. and an underground mining lease from a large public mining entity, both targeting metallurgical Eagle seam coal.
This expansion builds upon Range Impact's earlier acquisition of 15 mining permits at the same complex in March 2025. The company has already made significant progress, reducing permit responsibilities by 10% within just 90 days of the initial acquisition. Michael Cavanaugh, the CEO of Range Impact, expressed his satisfaction with the progress and highlighted the long-term value creation potential, emphasizing the benefits for local communities and shareholders.
