Coal news and updates

Warrior Met Coal Targets Higher Production This Year -- Commodity Comment

Warrior Met Coal Inc. is aiming for higher production in 2022 after two years of declines.

On its outlook:

The U.S. supplier of metallurgical coal for the global steel industry expects to produce and sell 5.5 million to 6.5 million short tons of coal in 2022.

In 2021, the company produced 5.6 million tons of coal, down from 7.9 million tons in 2020 and 8.5 million tons in 2019, according to the company's previous reports.

"We continue to be well-positioned from a cost and supply standpoint to take advantage of the current strong market for high quality premium met coal, which has been strengthened by robust economic growth," Chief Executive Walt Scheller said Tuesday.

On its fourth quarter:

"The Company produced 1.1 million short tons of met coal in the fourth quarter of 2021 compared to 1.8 million short tons in the fourth quarter of 2020. Fourth quarter production was the result of running both longwalls and four continuous miner units at Mine No. 7 and one continuous miner unit at Mine No. 4," Warrior Met Coal said.

"Sales volume in the fourth quarter of 2021 was 1.4 million short tons compared to 2.2 million short tons in the fourth quarter of 2020," the company said.

"Global supply remained tight during the quarter, even with China continuing to reduce its steel production," Mr. Scheller said.