Western Pennsylvania will welcome “70 to 100 direct full-time jobs and another 500 indirect jobs,” thanks to Corsa Coal which is building a mine in the state.
It is being reported that Corsa Coal officials are opening the Acosta Deep Mine, the first of four in the works to open this year in the United States.
Major shutdowns of mines during the Obama era created massive job loss, with the Federal Reserve data indicating over 30-thousand miners lost out to federal regulations and less demand for the products they mined.
“The opening of the Acosta Deep Mine marks a return to coal industry job creation in Somerset County, Pennsylvania,” Corsa Coal officials said. “Metallurgical prices have risen to record levels on the strength of strong steel demand and supply scarcity.”
The mine, funded with private capital and a grant issued by the state of Pennsylvania, should produce 400,000 tons of coal a year and will be sold for use in steel production in the U.S. and China. The cost of coking coal, the kind used to make steel, “doubled in the last year” due to supply problems in Australia as well as new Chinese policies meant to “curb” its production.
China banned importing coal from North Korea in mid-February in response to North Korea’s missile testing and pressure from the United Nations. Just recently, China halted a fleet of coal-carrying cargo ships coming from North Korea and sent them back. Trump called the move a “big step” during a news conference with NATO Secretary General Jens Stoltenberg.
“A lot of the coal boats have already been turned back,” the president said. “The vast amount of coal that comes out of North Korea going to China, they’ve turned back the boats. That’s a big step, and they have many other steps that I know about.”
China will now be importing U.S. coal. According to Reuters, China did not import U.S. coking coal between late 2014 and 2016. However, over 400,000 tonnes were imported by late February 2017.
Corsa Coal, a Canonsburg, Pennsylvania-based company, hopes to begin operating the Acosta Deep Mine in June.
H/T: Daily Caller
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