Gov. Ralph Northam announced that SunCoke Energy, Inc. (NYSE: SXC), the largest independent producer of high-quality coke for blast furnace steel production in the Americas, will invest $50 million in its manufacturing operation in Buchanan County to refurbish the facility as well as perform upgrades to enable the production of foundry coke. Virginia successfully competed with Ohio for the project, which will retain approximately 100 jobs.
“SunCoke Energy has thrived in Southwest Virginia for more than half a century, and this major investment will ensure the company’s longevity in our Commonwealth for decades to come,” said Northam. “This project is an important win for Buchanan County, providing a much-needed boost to the coalfields’ economy and serving as a strong vote of confidence in the region and its skilled workforce.”
SunCoke Energy, Inc. supplies high-quality coke to the integrated steel industry under long-term, take-or-pay contracts that pass through commodity and certain operating costs to customers. The company utilizes an innovative heat-recovery cokemaking technology that captures excess heat for steam or electrical power generation. In addition, SunCoke provides export and domestic material handling services to coke, coal, steel, power, and other bulk and liquids customers. The company has more than 55 years of cokemaking experience serving the integrated steel industry, with facilities located in Illinois, Indiana, Ohio, Virginia, and Brazil. SunCoke’s logistics terminals have the collective capacity to mix and transload more than 40 million tons of material each year, and are strategically located to reach Gulf Coast, East Coast, Great Lakes, and international ports.
“This investment could not have come at a better time for Buchanan County and the coalfields,” said Delegate Will Morefield. “The Jewell Coke plant is a significant economic driver for the coalfields of Virginia and Southern West Virginia with nearly 1,000,000 tons of coal coming from mining operations in those areas each year. We are delighted that SunCoke is committed to our region and the investment to diversify in the foundry coke market will help ensure the plant will be in operation for many years to come.”
