RICHMOND, VA — Governor Glenn Youngkin today announced that Coronado Global Resources Inc., a leading international producer of high-quality metallurgical coal, plans to expand in Buchanan County and Tazewell County. The company’s commitment of $169.1 million toward this effort will increase capacity at its Buchanan Mine Complex to meet the growing demand for metallurgical coal, an essential element in steel production. Coronado has developed both a retention and growth strategy with the Virginia operation, creating 181 new jobs paying above the average prevailing wage over four years.
“Coronado Global Resources’ major expansion is a win-win, creating 181 high-paying jobs in the resilient Buchanan community and increasing Southwest Virginia’s production of an essential component for the steel industry,” said Governor Glenn Youngkin. “We value our long-term corporate partnership with Coronado and look forward to the economic benefits that will stem from this tremendous announcement.”
“Southwest Virginia has long been an energy engine for the Commonwealth, and Coronado produces a high-demand resource that is a mainstay for infrastructure around the world,” said Secretary of Commerce and Trade Caren Merrick. “The company’s investment in Buchanan County and Tazewell County signifies its future longevity and is a vote of confidence in the region’s ability to provide a high-quality workforce, business-friendly climate, and great quality of life.”
“Coronado’s worldwide operations produce the highest quality metallurgical coal used in steel making,” said Gerry Spindler, CEO of Coronado Global Resources. “We are committed to our Buchanan operation in Virginia and see great potential for capitalizing on the growing demand for steel not only for construction and transportation infrastructure, but also renewable energy component parts.”
“Buchanan County has had a long-standing partnership with Coronado,” said the Honorable Jeff Cooper, Chair of the Buchanan County Board of Supervisors. “We are proud to support the company’s additional investment in our skilled workforce and in existing operations supplying the global steel market.”
“Tazewell County is proud to partner with Coronado in this critical expansion,” said the Honorable Aaron Gillespie, Chair of the Tazewell County Board of Supervisors. “We look forward to supporting the company to help ensure it remains a dominant, high-quality met coal producer supplying the world’s steel manufacturers.”
“Coronado’s additional investment in its Buchanan operation and its skilled workforce demonstrate a commitment to ensuring Virginia remains the energy capital of the East Coast,” said Senator Todd Pillion, co-chair of InvestSWVA. “Our team is proud to have partnered with Coronado’s executive leadership in a retention and growth strategy that will supply the world’s steel manufacturers with the highest-quality met coal available in the global market.”
“Southwest Virginia is ready to meet the demand for metallurgical coal. With our resources and skilled workforce, we can provide a reliable domestic source of met coal,” said Congressman Morgan Griffith. “I applaud Coronado for its commitment to our region.”
“Coronado is a driving force for Southwest Virginia’s economy and leads by example in supporting our skilled workforce,” said Senator Travis Hackworth. “The company’s investment in met coal production for the global steel market is critical to our entire Commonwealth’s economic competitiveness.”
“I want to thank Coronado’s leadership and vision for further investing in Southwest Virginia and our people,” said Delegate Will Morefield. “Governor Youngkin, the Buchanan County Board of Supervisors, the Tazewell County Board of Supervisors, the Virginia Coalfield Economic Development Authority (VCEDA), and leaders from across the Commonwealth understand the impact that new jobs have on Southwest Virginia’s economy. Coronado supplies the highest-quality metallurgical coal to steel manufacturers around the globe and Southwest Virginia is proud they can call our region home for many years to come.”
Coronado Global Resources’ operations are located in two of the largest and most productive metallurgical coal basins in the world; the Bowen Basin in Queensland, Australia, and the Central Appalachian region of the U.S., servicing customers throughout the Asia-Pacific, Americas, and Europe. Coronado’s two U.S.-producing mine complexes are the Buchanan Mine Complex in Buchanan County and the Logan Mine Complex located in West Virginia. The Buchanan Mine Complex first commenced production in 1983, with longwall mining beginning in 1987; it is the largest metallurgical coal mine in Virginia. Coronado employs nearly 600 at the Buchanan facility.
The Virginia Economic Development Partnership worked with Buchanan County, Tazewell County, and InvestSWVA to secure the project for Virginia. Governor Youngkin approved a $3,525,000 grant from the Commonwealth’s Opportunity Fund to assist both counties with the project. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
# # #
Read More: https://governor.virginia.gov/newsroom/news-releases/2022/august/name-938788-en.html
