Warrior Publishes 2024 Sustainability Report

Rhea-AI Summary

Warrior Met Coal (NYSE: HCC) has released its 2024 sustainability report, highlighting significant achievements in safety, environmental impact, and community engagement. The company reported a 19% improvement in safety incidence rate compared to 2023, with a total incidence rate 65% lower than the national average for underground coal mines.

Key environmental accomplishments include a 33% reduction in total Scope 1 and 2 emissions from their 2021 baseline, progressing toward their 2030 goal of 50% reduction. The company completed its water efficiency optimization plan, supporting their target of 25% water usage reduction by 2030. Additionally, Warrior demonstrated community commitment through $1.5 Million in charitable donations.

CEO Walt Scheller emphasized the company's commitment to safety and sustainability while executing their growth strategy, including the development of the Blue Creek Mine project.

BROOKWOOD, Ala.--(BUSINESS WIRE)-- Warrior Met Coal, Inc. (NYSE: HCC) (“Warrior” or the “Company”) today announced the recent publication of its 2024 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:

• 19% improvement in safety incidence rate compared to 2023, Total incidence rate 65% lower than the national average for underground coal mines (as of September 30, 2024);
• Achieved over 33% reduction in total Scope 1 and Scope 2 emissions compared to the 2021 baseline, creating additional progress towards our goal of 50% reduction in GHG emissions by 2030;
• Completed the final phase of the water efficiency and optimization plan announced in 2021 as a foundation to achieving our 25% water usage reduction goal by 2030; and
• Donated over $1.5 Million to charitable organizations.

“Warrior understands the importance of being a safe operator in the mining industry and we are committed to being a sustainable industry leader for our community, employees, customers, and other stakeholders,” said Walt Scheller, Chief Executive Officer. “As we execute on our long-term growth strategy, which includes the development of our world-class Blue Creek Mine, we continue to focus on the safety of our people, protecting natural ecosystems and giving back to the communities in which we live and work.”

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 metallurgical (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 quality 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 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 report 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 short and long term sustainability objectives and goals, our expectations as to how and when the company will meet those objectives and goals, our strategic priorities, pilot projects related to carbon capture and water reduction, reclamation obligations and plans, and other commitments, plans, targets, competitive advantages, 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 and short term and long-term water usage 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 report 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 report; 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 met 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; the company’s expectations regarding its future tax rate as well as its ability to effectively utilize its net operating losses to reduce or eliminate its cash taxes; 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 met 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 met 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, 2023 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 Report 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 Corporate Responsibility Report after the date of this 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 Report or elsewhere might not occur. In addition, many of the standards and performance metrics used and referred to in this report 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/20250210227255/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 safety improvements did Warrior Met Coal (HCC) achieve in 2024?

Warrior Met Coal achieved a 19% improvement in safety incidence rate compared to 2023, with a total incidence rate 65% lower than the national average for underground coal mines.

How much progress has HCC made toward its 2030 emissions reduction goal?

HCC has achieved a 33% reduction in total Scope 1 and 2 emissions compared to their 2021 baseline, progressing toward their goal of 50% reduction by 2030.

What is Warrior Met Coal's water usage reduction target for 2030?

Warrior Met Coal aims to reduce water usage by 25% by 2030 and has completed the final phase of their water efficiency and optimization plan.

How much did Warrior Met Coal (HCC) donate to charitable organizations in 2024?

Warrior Met Coal donated over $1.5 Million to charitable organizations in 2024.

What major development project is included in Warrior Met Coal's growth strategy?

Warrior Met Coal's growth strategy includes the development of their world-class Blue Creek Mine project.