Australian metallurgical coal producer Coronado Global Resources has unveiled plans to invest $169.1m to expand coal mining operations at its Buchanan Mine Complex in Virginia, US.
The Buchanan Mine Complex is located in the Central Appalachian Basin in southwestern Virginia, 16km south-east of Grundy.
The expansion project is expected to create 181 jobs. This will bring the total number of employees at the site to 781, Virginia Governor Glenn Youngkin announced.
By expanding into Buchanan and Tazewell counties, Coronado intends to increase capacity at the Buchanan Mine Complex to meet the growing demand for metallurgical coal, which is said to be an essential element in the production of steel.
Coronado Global Resources CEO Gerry Spindler said: “We are committed to our Buchanan operation in Virginia and see great potential for capitalising on the growing demand for steel not only for construction and transportation infrastructure but also renewable energy component parts.”
Said to be the largest metallurgical coal mine in Virginia, the Buchanan Mine Complex started production in 1983.
Furthermore, Youngkin approved a $3.52m grant from the Commonwealth’s Opportunity Fund to assist with the development of the project.
Youngkin said: “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.”
Virginia Secretary of Commerce and Trade Caren Merrick commented: “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.”