BlackRock in NYC drew the striking Warrior Met Coal mine workers who are ‘simply following the money’
Hundreds of coal miners and union advocates took to the streets of New York City this week in support of workers from Warrior Met Coal mines in Brookwood, Alabama. Approximately 1,100 Warrior Met Coal mine workers have been on strike against their employer for nearly five months, fighting for better pay and benefits.
According to the United Mine Workers of America, the current agreement with union employees was negotiated as Warrior Met Coal, which was formerly known as Walter Energy, emerged from bankruptcy in 2016. Union members argue they made numerous concessions in pay, benefits, holidays, overtime and other areas totaling more than $1.1 billion to keep the company afloat and help get it out of bankruptcy.
Warrior Met produces coal used in steel production in the United States, Asia, Europe and South America. The company currently has the operational capacity to mine about 8 million tons of coal per year from more than 300 million tons of recoverable reserves, according to its website.
In May, Warrior Met Coal reported a net loss of $21.4 million for the first quarter of 2021, or 42 cents per diluted share, compared to net income of $21.5 million, or 42 cents per diluted share, in the first quarter of 2020. Warrior Met Coal’s total first quarter revenue was $213.8 million, including $207 million in mining revenues.
The group of workers, who can be seen dressed in camouflage T-shirts carrying signs with the slogan “We are One” in videos shared on social media, gathered outside the midtown Manhattan headquarters of asset management firm BlackRock, which manages $9 trillion in assets for its clients and is Warrior Met Coal’s largest shareholder.
Protestors can be heard chanting “no contract, no coal” and “Warrior Met Coal ain’t got no soul” with cars passing by honking in support.
UMWA International President Cecil Roberts said in a statement that the group was in New York City “simply following the money, and demanding that those who created that wealth, the miners, get their fair share of it.”
It’s time to let the permanent ruling class on Wall Street & the government that runs cover for them, hear our voices.— Joe Kent for WA-3 (@joekent16jan19) July 28, 2021
Our nation has a duty to provide for our people. We are a nation not an economy.
Stop Blackrock & bring back our manufacturing & energy jobs. https://t.co/WqpaxfvLVA
“It’s time to let the permanent ruling class on Wall Street & the government that runs cover for them, hear our voices,” Republican congressional candidate for Washington’s third district, Joe Kent, tweeted in support of the workers. “Our nation has a duty to provide for our people. We are a nation not an economy. Stop Blackrock & bring back our manufacturing & energy jobs.”