Warrior Met Coal Publishes 2023 Sustainability Report

Rhea-AI Summary

Warrior Met Coal, Inc. (HCC) has published its 2023 sustainability report, showcasing its commitment to sustainability principles. The report highlights a 52% lower total incidence rate than the national average for underground coal mines, a 13% reduction in total Scope 1 and Scope 2 emissions, a 16% reduction in methane emissions, completion of a state-of-the-art dry slurry system ahead of schedule, increased training opportunities for employees, adoption of a board diversity policy, and over $1 million in donations to charitable organizations. CEO Walt Scheller emphasized the company's dedication to safety, environmental stewardship, and investment in employees and communities.

BROOKWOOD, Ala.--(BUSINESS WIRE)-- Warrior Met Coal, Inc. (NYSE: HCC) (“Warrior” or the “Company”) today announced the recent publication of its 2023 sustainability report, now available on the Company’s website at www.warriormetcoal.com/sustainability. The report details Warrior’s commitment to sustainability principles.

The report’s highlights include that Warrior:

• Maintained a total incidence rate 52% lower than the national average for underground coal mines (as of September 30, 2023);
• Achieved a 13% reduction in total Scope 1 and Scope 2 emissions, as well as a 16% reduction in methane emissions as compared to the 2021 baseline;
• Completed our state-of-the-art dry slurry system two years ahead of schedule;
• Increased training opportunities for our employees;
• Adopted the Warrior Met Coal Policy on Board Diversity, demonstrating our commitment to diversity from the top down; and
• Donated over $1 Million to charitable organizations.

“At Warrior we are fully committed to being a responsible corporate citizen to our employees, customers, communities, and other stakeholders,” said Walt Scheller, Chief Executive Officer. “Operating as one of the world’s largest producers of premium quality steelmaking coal, we understand our responsibility to produce our products in a sustainable manner. We believe that our long-term success hinges on a trio of commitments: unwavering dedication to safety, proactive environmental stewardship, and a continuous investment in our employees and local communities.”

About Warrior

Warrior is a U.S.-based, environmentally, and socially minded supplier to the global steel industry. It is dedicated entirely to mining non-thermal steelmaking coal used as a critical component of steel production by metal manufacturers in Europe, South America, and Asia. Warrior is a large-scale, low-cost producer and exporter of premium steelmaking coal, also known as hard-coking coal (HCC), operating highly efficient longwall operations in its underground mines based in Alabama. The HCC that Warrior produces from the Blue Creek coal seam contains very low sulfur and has strong coking properties. The premium nature of Warrior’s HCC makes it ideally suited as a base feed coal for steel makers. For more information, please visit www.warriormetcoal.com.

Forward-Looking Statements

This press release contains, and the officers and representatives of Warrior Met Coal, Inc. (the “Company”) may from time to time make, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this report that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, including our sustainability objectives, commitments, plans, targets, goals and strategies, are forward-looking statements and are based on current market conditions and are therefore subject to change, due to many factors. No representations or warranties are made by us as to the accuracy of any such forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific short term and long-term emission reduction targets, the role of specific technologies in reducing carbon emissions, and the Company’s role in contributing to global social and environmental goals. The inclusion of this information should not be regarded as an indication that we consider it to be necessarily predictive of actual future results. The words “believe,” “expect,” “anticipate,” “approximately,” “plan,” “intend,” “estimate,” “project,” “strive,” “work to,” “target(s),” “goal(s),” “foresee,” “future,” “should,” “would,” “could,” “may,” “potential,” “outlook,” “guidance” or other similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Forward-looking statements in this press release include, but are not limited to, statements relating to our sustainability strategy and our short-term and long-term sustainability targets and goals, and represent management’s good faith expectations, projections, guidance, or beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed in or implied by these forward-looking statements. It is possible that the goals, targets, and results described in the report will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation, unexpected delays, difficulties, and expenses in executing against the objectives, targets, and commitments set forth in this press release; unexpected cost increases or technical difficulties in constructing, developing, maintaining or modifying sites, technologies, or processes; technological innovations; fluctuations or changes in the pricing or demand for the Company’s coal (or steelmaking coal generally) by the global steel industry; the impact of global pandemics, such as the novel coronavirus (“COVID-19”) pandemic, on our business, employees, suppliers, and customers, including the risk of a decline in demand for the Company’s steelmaking coal due to the impact of any such global pandemic on steel manufacturers or on global economic markets; the inability of the Company to effectively operate its mines and the resulting decrease in production; the inability of the Company to ship its products to customers in the case of a partial or complete shut-down of the Port of Mobile; delays in the Port of Mobile expansion being undertaken by State of Alabama; federal and state tax legislation; changes in interpretation or assumptions and/or updated regulatory guidance regarding the Tax Cuts and Jobs Act of 2017; legislation and regulations relating to the Clean Air Act and other environmental initiatives; regulatory requirements associated with federal, state and local regulatory agencies, and such agencies’ authority to order temporary or permanent closure of the Company’s mines; operational, logistical, geological, permit, license, labor (including strikes and slowdowns) and weather-related factors, including equipment, permitting, site access, operational risks and new technologies related to mining; the timing and impact of planned longwall moves; the Company’s obligations surrounding reclamation and mine closure; inaccuracies in the Company’s estimates of its steelmaking coal reserves; the Company’s ability to develop Blue Creek, any projections or estimates regarding Blue Creek, including the expected returns from this project, if any, and the ability of Blue Creek to enhance the Company’s portfolio of assets, the Company’s ability to develop or acquire steelmaking coal reserves in an economically feasible manner; significant cost increases and fluctuations, and delay in the delivery of raw materials, mining equipment and purchased components; fluctuations in the amount of cash the Company generates from operations; integration of businesses that the Company may acquire in the future; adequate liquidity and the cost, availability and access to capital and financial markets; failure to obtain or renew surety bonds on acceptable terms, which could affect the Company’s ability to secure reclamation and coal lease obligations; costs associated with litigation, including claims not yet asserted; and other factors described in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its Form 10-K for the year ended December 31, 2022 and other reports filed from time to time with the SEC, which could cause the Company’s actual results to differ materially from those contained in any forward-looking statement. The Company’s filings with the SEC are available on its website at www.warriormetcoal.com and on the SEC’s website at www.sec.gov. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. In this report, we refer to direct operating greenhouse gas emissions (inclusive of scope 1 and scope 2 emissions). We note that direct operating greenhouse gas emissions does not refer to our carbon emissions associated with the use of energy products we sell (referred to as scope 3 emissions). Warrior only controls its direct operating emissions. This statement is not intended to suggest that Warrior is addressing the emissions from use of its energy products in its emissions reduction plan. When considering forward-looking statements made by us in this press release or elsewhere, such statements speak only as of the date on which we make them. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We have no duty to, and do not intend to, update or revise the forward-looking statements in this press release or our Corporate Responsibility Report after the date of the Corporate Responsibility Report, except as may be required by law. In light of these risks and uncertainties, you should keep in mind that any forward-looking statement made in this press release or elsewhere might not occur. In addition, many of the standards and performance metrics used and referred to in this press release continue to evolve and are based on management expectations and assumptions believed to be reasonable at the time of preparation but should not be considered guarantees. The standards and performance metrics used, and the expectations and assumptions they are based on, have not, unless otherwise expressly specified, been verified by any third party.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240206436839/en/

Analysts and Investors, contact: Dale W. Boyles, (205) 554-6129

News Media, contact: D’Andre Wright, (205) 554-6131

Source: Warrior Met Coal, Inc.

FAQ

What is the ticker symbol for Warrior Met Coal, Inc.?

The ticker symbol for Warrior Met Coal, Inc. is HCC.

Where can I find Warrior Met Coal, Inc.'s 2023 sustainability report?

The 2023 sustainability report for Warrior Met Coal, Inc. is available on the company's website at www.warriormetcoal.com/sustainability.

What are some highlights from Warrior Met Coal, Inc.'s 2023 sustainability report?

Some highlights from the report include a 52% lower total incidence rate than the national average for underground coal mines, a 13% reduction in total Scope 1 and Scope 2 emissions, a 16% reduction in methane emissions, completion of a state-of-the-art dry slurry system ahead of schedule, increased training opportunities for employees, adoption of a board diversity policy, and over $1 million in donations to charitable organizations.

What did CEO Walt Scheller emphasize in relation to the sustainability report?

CEO Walt Scheller emphasized the company's dedication to safety, environmental stewardship, and investment in employees and communities.