BROOKWOOD, Ala.--(BUSINESS WIRE)--
Warrior Met Coal, Inc. (NYSE:HCC) (“Warrior” or the “Company”) today
announced that Alabama Governor Kay Ivey is expected to be among the
guests in attendance on Wednesday, May 2 at 10:00 a.m., as the ribbon is
cut celebrating the completion of Warrior Met Coal Company’s new No. 7
Mine North portal facility. The Governor will join a number of other
state and local officials recognizing the significant positive local
economic impact of Warrior’s metallurgical coal mining operations.
Warrior Met Coal is a leading producer and exporter of metallurgical
coal for the global steel industry from underground mines located in
Brookwood, Alabama, southwest of Birmingham and near Tuscaloosa. These
underground coal mines are 1,400 to 2,100 feet underground, making them
some of the deepest vertical shaft coal mines in North America.
Metallurgical coal mined from the Blue Creek coal seam contains very low
sulfur and has strong coking properties, making it ideally suited for
steel makers. Warrior Met Coal’s cost-efficient operations serve markets
in the United States, Europe, Asia, and South America via convenient
barge and rail access to the Port of Mobile. The company currently has
the operational capacity to mine about eight million tons of coal per
year from more than 300 million tons of recoverable reserves.
The $19 million North portal facility at Mine No. 7 provides a new
gateway for 200 Warrior Met Coal miners to enter the northern sections
of the mine. Designed for growth, it will accommodate up to 500
underground employees, adding to both the safety and productivity of
Warrior employees as it is put into use. The new portal eliminates 5.1
miles of travel underground each way for miners and is located 45
minutes closer to the sections in the North, saving travel time each day.
“The opening of our new portal speaks strongly to Warrior Met Coal’s
commitment to maintaining safe working conditions for all of our
employees, as well as our confidence in the met coal market in the
months and years to come,” said Walt Scheller, CEO of Warrior. “Today’s
celebration comes on the heels of our second anniversary as a company
operating in the great state of Alabama. And it was also just a year ago
in April that we became a publicly traded company on the New York Stock
Exchange.”
The new 33,000-plus square foot portal features a bathhouse, two kitchen
areas, 40 offices and training rooms in addition to a hoist system which
is double the capacity of the hoist currently in use at No. 7 West Mine.
The new 7 North hoist features a 40-ton capacity, utilizing the latest
technology and operates at a speed of 900 feet per minute to traverse
the 1,451-foot-deep shaft. The hoist will accommodate 70 people.
“Our investment in this company has not only been in buildings and
infrastructure,” Mr. Scheller noted. “Our investment has also been in
people. When we look back over the past year, the statistics show we’ve
added 1,000 new people to our operations roster, and we are still
hiring.”
“Our commitment to the industry and to the people who work in it does
not end with the opening of the new portal facility,” said Jack
Richardson, Chief Operating Officer of Warrior. “Our Board has committed
significant capital of $100 to 120 million to reinvest in our mine
infrastructure and equipment needs this year, positioning us well for
future growth and improvement.”
“Operating safely is always the highest priority for our company,” Mr.
Scheller concluded. “We are committed to providing a safe and healthy
workplace for all employees, and our continual reinforcement of safety
culture helps to ensure that all employees return home safely to their
families every day. The North portal facility at No. 7 Mine is another
step evidencing and advancing that commitment.”
About Warrior
Warrior is a large scale, low-cost U.S. based producer and exporter of
premium HCC, operating highly efficient longwall operations in its
underground mines located in Alabama. The HCC that Warrior produces from
the Blue Creek coal seam contains very low sulfur and has strong coking
properties and is of a similar quality to coal referred to as the
premium HCC produced in Australia. The premium nature of Warrior’s HCC
makes it ideally suited as a base feed coal for steel makers and results
in price realizations near the Australian LV Index. Warrior sells all of
its met coal production to steel producers in Europe, South America and
Asia. For more information about Warrior, please visit www.warriormetcoal.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180430005073/en/
Warrior Met Coal, Inc.
For Investors:
Dale W. Boyles,
205-554-6129
[email protected]
or
For
Media:
William Stanhouse, 205-554-6131
[email protected]
Source: Warrior Met Coal, Inc.