Currents - Energy Industry Insights, Volume 6, Issue 9

Coal Producer Plans to Create 181 New Jobs in Southwest Virginia Mine Complex -

"Coronado Global Resources Inc., an international coal company, is committing $169.1 million toward the effort to increase capacity at its Buchanan Mine Complex to meet the growing demand for metallurgical coal, which is an important element in steel production."

Why this is important: Coronado Global Resources Inc. plans to invest $169.1 million to increase capacity at its Buchanan Mine Complex to meet the worldwide demand for metallurgical coal. The mine in Buchanan and Tazewell Counties in Virginia produces metallurgical coal used in steel making. The investment will add 181 new mining jobs over the next four years. Coronado has 600 jobs at the complex now. Coronado also operates the Logan Mine Complex in West Virginia. The worldwide demand for metallurgical coal has led to record prices this year and shows no sign of ending with the Russian invasion of Ukraine disrupting coal markets, along with rebounding economies post-COVID-19 leading to greater energy demands.

Please see full Newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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