[From Submit-Intel] Coronado has laid off around 140 workers at Buchanan mine, just three years after pledging a $169 million investment that was expected to create 181

Coronado Coal has laid off around 140 workers at its Buchanan County, Virginia operation, just three years after pledging a $169 million investment that was expected to create 181 jobs. The move delivers a blow to the local community, which continues to recover from earlier flood damage.

The job cuts reflect growing strain in the U.S. metallurgical coal sector, where prices have fallen sharply due to weaker global steel demand and elevated supply from major exporters like Australia and Mongolia. Industry sources suggest that margins have thinned significantly, particularly for higher-cost U.S. mines, making workforce reductions increasingly likely.

The Buchanan County Board of Supervisors will meet in May to review whether Coronado still meets the job creation targets required for its local tax incentives. The company has not issued a formal statement on the layoffs. As pressure mounts from declining coal benchmarks, more U.S. producers may be forced to reassess operational commitments.