Warrior Met Coal Remains Committed to Employees

Rhea-AI Summary

Warrior Met Coal emphasizes the importance of its employees as negotiations with the United Mine Workers of America (UMWA) approach a critical deadline of April 1, 2021. The company aims to provide competitive packages while ensuring financial stability amid market volatility. Despite challenges due to a declining coal market and the pandemic, Warrior Met Coal has safeguarded the jobs of its 1,400 employees. The firm remains committed to reaching a resolution with the UMWA and has implemented continuity plans to meet key customer demands, recognizing its significant role in Alabama's economy.

Positive

• Warrior Met Coal has maintained employment for 1,400 employees during market volatility.
• The company is recognized for providing high-paying jobs that contribute to Alabama's economy.
• Continuity plans are in place to meet customer demands despite UMWA's strike declaration.

Negative

• The UMWA has declared a strike amid ongoing negotiations, indicating a potential labor disruption.
• The coal market is experiencing a decline, which may affect future revenue.

At Warrior Met Coal, we value and appreciate our employees’ hard work. Simply put, we are only as good as our team. Our priorities have always been keeping people employed with long-lasting careers and ensuring Warrior Met Coal remains financially stable in a particularly volatile coal market.

With our contract with the United Mine Workers of America (UMWA) set to expire on April 1, 2021, we have been working in good faith to reach an agreement.

Throughout negotiations, our sight has remained on the future – to provide our employees with a competitive package while protecting jobs and the longevity of the Company and its workforce.

History has shown that we must remain vigilant in preparing for the volatility of coal prices. Despite a declining market and global pandemic last year, we are especially proud of the fact that we remained open as an essential industry and were able to protect the livelihood of our 1,400 employees.

We provide some of the highest paying jobs in Alabama and they contribute immensely to our state’s economy. Metallurgical coal is a vital component in steel manufacturing and is accountable for 50% of the revenue generated by the Alabama State Port Authority. We take this responsibility for our employees, neighbors and our state’s economic growth very seriously.

We have and will continue to work with the UMWA to reach a resolution. While we are disappointed that the UMWA has taken this extreme step to declare a strike while we continue to negotiate in good faith, we have continuity plans in place to continue meeting the demands of our key customers.

We respect our employees’ contributions to Warrior Met Coal and will not stop working to reach an agreement. The wellbeing of our team is always at the forefront. We remain committed to achieving a package that employees appreciate, that will protect the Company and can provide a stable future.

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 met 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 met 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, 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 Platts Index price. For more information, please visit www.warriormetcoal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210331006007/en/

FAQ

What is Warrior Met Coal's approach to negotiations with the UMWA?

Warrior Met Coal aims to negotiate in good faith to reach a competitive agreement while ensuring job protection.

When does the contract with the UMWA expire?

The contract with the UMWA is set to expire on April 1, 2021.

How many employees does Warrior Met Coal have?

Warrior Met Coal employs approximately 1,400 people.

What is the significance of metallurgical coal for Warrior Met Coal?

Metallurgical coal is crucial for steel manufacturing and contributes significantly to the revenue at the Alabama State Port Authority.

What are Warrior Met Coal's continuity plans?

The company has developed continuity plans to continue meeting customer demands during negotiations.