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Unimin (known as Covia since 2018)[2] Corporation is a wholly owned subsidiary of global industrial minerals company SCR-Sibelco [nl] of Belgium. Unimin operates 44 mining and mineral processing facilities in the United States, Mexico and Canada. In Mexico, the company operates as Grupo Materias Primas de México and in Canada as Unimin Canada Ltd/Ltee. Executive offices are located in New Canaan, Connecticut with technology, analytical and sales service centers situated throughout North America. Unimin has over 2,400 employees located in 19 states in the U.S., Canada and Mexico.

Key Information

In 2018, Unimin merged with Santrol to become Covia.

History

[edit]

Founded in 1970, Unimin is one of North America's largest producers of non-metallic industrial minerals. Unimin is the world's leading producer of quartz proppants (frac sand) and a major producer of resin coated sand proppants for oil and natural gas stimulation and recovery, and the largest producer of low-iron nepheline syenite for glass, ceramic, paint and plastic applications. The company is also the world's leading producer of high purity quartz, a highly specialized product used in the fabrication of integrated circuits, solar photovoltaic cells and high intensity lighting.[3]

Unimin's product portfolio includes industrial sand, high purity quartz, feldspar, nepheline syenite, microcrystalline silica, ball clay, kaolin, calcium carbonate and calcium quicklime and hydrate. Quicklime and hydrated lime products are produced and sold by their Southern Lime subsidiary. Unimin serves a diversified customer base with technical requirements that range from high temperature foundry and metallurgical applications, functional performance in paint, plastics and rubber manufacture, chemical reactivity in water filtration and environmental engineering, and high purity in consumer products and food processing.

Unimin has been recognized for its safety and health record with the Sentinels of Safety award by the U.S. Mine Safety and Health Administration (MSHA) and the National Mining Association (NMA). The company is also recognized by the Wildlife Habitat Council for outstanding environmental stewardship and employee volunteerism with the Corporate Habitat of the Year award, and Community Partner of the Year and Signatures of Sustainability awards.

Unimin Corporation is certified as a sustainable company by the Global Reporting Initiative (GRI).[4]

In 2018, Unimin merged with Santrol to become Covia.[2] The company had 2633 employees in 2020,[5] but was forced into chapter 11 bankruptcy during the COVID-19 pandemic.[6] It emerged from bankruptcy at the end of 2020.[7]

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Covia

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Covia is an American industrial minerals company headquartered in , that mines, processes, and supplies high-purity silica, , and other materials for applications in , ceramics, casting, coatings, polymers, and products. Formed in 2018 through the merger of Unimin Corporation—a firm with origins tracing back nearly a century in industrial minerals—and Fairmount Santrol, a specialist in proppants for hydraulic fracturing, Covia initially served both industrial and sectors before completing a strategic separation of its business into the standalone Covia Energy, LLC on , 2024, allowing focused growth in oil and gas proppants for the former while retaining industrial operations under Covia Solutions. As a wholly owned of the Belgian firm SCR-Sibelco, Covia emphasizes sustainable practices, technical innovation in , and long-term reliability, with operations spanning multiple continents and a history of achievements, such as a 27-year record of zero lost-time accidents at its facility. The company's defining financial challenge came amid the collapse in global energy demand due to the and low oil prices, prompting a voluntary Chapter 11 filing in June of that year; Covia emerged from restructuring by December, having reduced its debt obligations by over $1 billion through creditor agreements and operational streamlining, which strengthened its for subsequent market recovery. This episode highlighted vulnerabilities in the frac-sand segment inherited from Fairmount Santrol but also demonstrated resilience, as Covia pivoted toward diversified industrial demand less tied to volatile commodity cycles. Post-separation, Covia has prioritized innovation in eco-efficient products, such as low-iron minerals for energy-saving and advanced media, positioning it as a key supplier in sectors requiring precise material properties amid rising global infrastructure needs.

Corporate Overview

Founding and Ownership

Covia was formed on June 1, 2018, through the merger of Unimin Corporation, a of industrial minerals, and Fairmount Santrol, a supplier of sand-based proppants primarily for hydraulic fracturing in the sector. The transaction combined Unimin's global operations in silica, , and other minerals with Fairmount Santrol's specialized frac sand production, aiming to create a diversified minerals company serving industrial and markets with annual revenues exceeding $2.5 billion at the time. The merger was structured as a tax-free cash-and-stock deal, with Fairmount Santrol shareholders receiving $170 million in cash and retaining approximately 35% equity in the new entity, Covia Holdings Corporation. Prior to the merger, Unimin was majority-owned by SCR-Sibelco NV, a Belgium-based industrial minerals firm, which held about 65% of the outstanding shares of the newly formed Covia. initially operated as a publicly traded entity on the under the CVIA. In August 2020, facing market downturns in energy demand and high debt from the merger, Covia filed for Chapter 11 bankruptcy protection in the U.S., during which Sibelco's ownership stake was fully diluted as part of the financial . The company emerged from bankruptcy on December 31, 2020, as a privately held entity, , with reduced debt and a focus on operational efficiency. As of 2025, Covia Holdings LLC remains privately held, with no single majority owner publicly disclosed following the post-bankruptcy equity changes and subsequent corporate actions. In January 2024, Covia announced the separation of its and industrial divisions into standalone companies to allow independent capital structures and strategic focus, a process completed later that year. The industrial business continues under Covia Solutions, headquartered in , while the division merged with Black Mountain Sand in November 2024 to form Iron Oak Energy Solutions, a privately held proppant supplier backed by sponsors.

Leadership and Governance

Bruno Biasiotta serves as President and Chief Executive Officer of Covia, appointed on March 11, 2024, succeeding Andrew Eich who stepped down from both roles. Biasiotta brings over 30 years of experience in construction materials, architectural services, and building products, including prior CEO roles at Oldcastle BuildingEnvelope (2022–2024), Nortek Air Management (2016–2021), and Philips Lighting Americas (2012–2015), as well as 17 years at Johnson Controls in operational and general management positions. The executive leadership team includes Chetan Balsara as Executive Vice President and , Carlos in a senior operational role, and Mike Marcely overseeing key functions, supporting Biasiotta in driving business transformation and operational efficiency across Covia's divisions. Shawn Williams holds the position of Executive Chairman of the Board of Managers, elected in a that enhanced board ; he previously served as Board Chair and Acting CEO from June to December 2021. Williams has extensive experience in plastics distribution and chemicals, including as CEO of Nexeo Plastics (2019–2020) and EVP at Nexeo Solutions (2012–2019), with earlier roles at and GE. Covia's Board of Managers comprises seven members, reflecting its ownership structure backed by firms such as and Anchorage Capital Group. Key members include J. Donald Sheets as Vice Chairman and Chair of the , with 34 years at including 13 years as CFO; Paul Gordon as Chair of the Compensation Committee, a managing director at with prior roles in ; Robert , managing director at ; Phil Barkhorn, managing director at Anchorage Capital; and Felix Lo, managing director at . The board oversees strategy, risk, and compliance through dedicated committees, including , Compensation, and . Covia maintains practices centered on ethical conduct, compliance, and integration, with refreshed structures in 2024 assigning explicit responsibilities for environmental, social, and governance oversight to team members. As a privately held , it operates without public shareholder reporting but adheres to internal policies for director and effectiveness.

Business Operations

Industrial Division

The Industrial Division, restructured as Covia Solutions following the July 1, 2024, separation from Covia's operations, delivers diversified solutions to non-energy sectors, emphasizing high-purity materials processed through , , blending, and development. Headquartered in , and led by President and CEO Bruno Biasiotta, the division prioritizes customized, sustainable products derived from silica sand, , , and , sourced from North American mines and supported by an extensive logistics network accessing major Class I railroads and terminals. Key markets include foundry casting, building products such as roofing granules and industrial flooring, ceramics for and sanitaryware, coatings and polymers for fillers and extenders, water filtration media, manufacturing, and sports/recreation surfaces like turf . Offerings feature engineered attributes, including low-emission formulations, control, and suppression, to meet technical specifications for durability, purity, and environmental compliance in applications ranging from countertops to pool filters. In May 2024, the division expanded via acquisition of R.W. Sidley's Industrial Minerals Division, integrating additional silica-based products for , industrial fillers, and sports field applications, thereby broadening its portfolio in high-demand silica segments. This move aligns with Covia Solutions' focus on innovation-driven supply chains, enabling coast-to-coast distribution and for customer-specific production challenges.

Energy Division

The Energy Division of Covia specialized in the production and supply of proppants for the oil and industry, primarily consisting of high-purity silica sand used in hydraulic fracturing operations to enhance extraction. These proppants, including resin-coated variants, function by propping open fractures created in rock formations during , thereby facilitating the flow of oil and gas to the wellbore. The division served exploration and production companies as well as oilfield service providers, emphasizing reliable supply chains and logistical solutions such as rail terminals to deliver products to active basins across . Covia's energy operations leveraged silica mined from 27 strategically located plants in geological formations suitable for high-quality frac , with processing focused on achieving specifications for conductivity and crush resistance essential for deep-well applications. Following the merger forming Covia, the division idled four frac facilities in ; Brewer, ; Wexford, ; and Cutler, , in response to oversupply and reduced in the proppants market. This adjustment reflected cyclical pressures in the sector, where proppant correlates closely with activity influenced by prices. Leadership of the Energy Division was strengthened in September 2023 with the appointment of Michael Segura as president, who brought prior experience as senior vice president at , overseeing an $11 billion segment in completions and production. Under his guidance, the division prioritized operational efficiency and customer-centric innovations in proppant delivery. In January 2024, Covia announced the separation of its energy operations into a standalone entity, , to allow focused growth as a pure-play proppant supplier; the split was completed on July 1, 2024, with Segura serving as president and CEO of the new company. Subsequently, in November 2024, Covia Energy merged with Black Mountain Sand to form Iron Energy Solutions, combining capacities to produce approximately 30 million tons of proppants annually for major basins including the Permian and Eagle Ford.

Supply Chain and Global Footprint

Covia's integrates vertical operations from raw mineral extraction at company-owned mines to processing and customized at dedicated facilities, enabling control over quality and . Raw materials, including silica sands, , and other industrial minerals, are sourced primarily from North American deposits through techniques using loaders and excavators, followed by on-site crushing and initial beneficiation. Processing stages involve advanced capabilities such as , resin coating, blending, and quality testing at plants like those in Elco and Tamms, —each operational for over a century and leveraging local geologic formations for high-purity outputs—or the Emmett, Idaho facility, which has maintained zero lost-time accidents for 27 years as of . These steps produce finished products for industrial and applications, with environmental plans like species-at-risk assessments implemented at 100% of relevant and sites by 2024. Distribution relies on a robust network with access to nearly all major U.S. Class I railroads, augmented by strategically placed terminals and last-mile trucking for efficient, on-time delivery across customer bases. This infrastructure supports just-in-time supply, minimizing inventory costs while ensuring reliability, though operational adjustments—such as idling the Gore, mine in November 2023 due to capital demands and production optimization—reflect adaptive . The company's global footprint centers on , with approximately 42 mining and processing sites spanning the , , and , complemented by limited European operations. In , 12 operational sites and two hub offices facilitate regional extraction and community-focused development as of 2023. U.S. facilities include over 20 mines for foundry sands and proppants, with concentrations in states like , , , and . In , the Fredericia facility produces proppants for oil and gas, foundry excipients, and clay/kaolin products, incorporating technologies like high-efficiency blowers to target a 70% reduction. While a 2018 noted operations in , recent activities emphasize n dominance and Danish efforts, aligning with diversified mineral demands.

Products and Markets

Core Mineral Products

Covia's core mineral products primarily consist of high-purity silica sand, , kaolin clay, , and related materials such as and , processed for industrial applications including foundry casting, , ceramics, coatings, and polymers. These minerals are extracted from deposits across , with processing emphasizing purity levels exceeding 99% for silica-based products to meet stringent performance requirements in downstream . Silica sand, a dominated by (SiO₂), forms the backbone of Covia's offerings, particularly in the form of INCAST® high-purity sand, which achieves over 99% content to enhance quality, reduce defects, and support sand reclamation in metal foundries. , sourced from the largest North American deposit under Covia's control, provides a low-silica alternative filler (negligible crystalline silica) for elastomers, paints, adhesives, and plastics, improving mechanical properties like and heat conductivity while enabling formulations compliant with health and safety standards. Brands such as MINEX® and HIFILL® N exemplify these products, derived from sodium-potassium aluminosilicates for use in rubber and . Kaolin clay and complement these, with kaolin processed at facilities like the Hephzibah plant in Georgia for ceramics and coatings, offering fine particle sizes for improved and opacity. contributes alkali content essential for and enamel production, while and extend applications in and building products. These products are customized through blending and low-emission processing to align with customer specifications, underscoring Covia's focus on reliability from mine to end-user.

Target Industries and Applications

Covia's engineered minerals, including high-purity silica sands, , and kaolin clays, primarily target industrial sectors following the July 2024 separation of its energy-focused operations into Covia Energy. In the foundry industry, these materials function as molding sands and core additives to facilitate precise , improving surface finish and reducing defects in automotive, , and machinery components. For building products, silica aggregates and fillers enhance the durability, abrasion resistance, and thermal , roofing granules, and industrial flooring systems. In ceramics and manufacturing, Covia's serves as a fluxing agent to lower melting temperatures and boost chemical durability in tiles, sanitaryware, and , while high-purity supports optical clarity in flat and specialty glass. Coatings and polymers applications leverage fine-ground minerals as extenders and reinforcements to improve , weather resistance, and mechanical strength in paints, adhesives, and plastic composites used in automotive and sectors. Water filtration systems employ graded silica sands and garnets for filters in municipal treatment plants and industrial processes, enabling effective removal of sediments and contaminants to achieve high-purity output. Additional niche applications include production, where minerals provide aesthetic veining and structural integrity for countertops and surfaces, and sports and , supplying silica for turf infill and recreational sand to ensure safety and performance in athletic fields. Prior to the 2024 separation, Covia's energy division supplied frac sand proppants for hydraulic fracturing in oil and gas exploration and production, where resin-coated sands maintain fracture conductivity to enhance recovery in basins. These applications underscore Covia's emphasis on customized to meet performance specifications across end-use markets.

Historical Development

Predecessor Companies

Unimin Corporation, established in , was a prominent producer of non-metallic industrial minerals, including silica , , and , serving sectors such as manufacturing, ceramics, and applications. By 1973, it had become North America's largest producer of silica , operating a network of and facilities across the continent. As a wholly owned of the Belgian firm SCR-Sibelco NV, Unimin expanded through acquisitions and developed specialized products for precision casting and water filtration, maintaining a focus on high-purity minerals derived from deposits. Fairmount Santrol Holdings Inc., incorporated in in 1986, traced its operational roots to predecessor entities active over 120 years prior, with key modern developments stemming from the 1948 founding of Best Sands by Walter Best in and subsequent acquisitions by Fairmount Minerals in 1978. The company specialized in industrial sands, particularly resin-coated proppants for hydraulic fracturing in and gas extraction, alongside abrasives and . It went public in 2016 under the ticker FMSA on the NYSE, emphasizing innovative sand-based technologies to enhance well productivity, and operated 20 facilities primarily in the United States, generating revenues heavily tied to energy markets. These predecessors complemented each other: Unimin's diversified, stable base paired with Fairmount Santrol's growth-oriented proppant expertise, setting the stage for their merger announced on December 13, 2017, and completed on June 1, 2018, in a tax-free transaction valued at approximately $1.1 billion, where Fairmount shareholders received $6.00 per share in cash plus stock in the new entity. The combination aimed to leverage synergies in supply chains and R&D, forming a entity with annual revenues exceeding $2 billion and a portfolio spanning both industrial and applications.

Merger Formation in 2018

Covia Holdings Corporation was established on June 1, 2018, through a business combination between Unimin Corporation, a privately held industrial minerals producer owned by the Sibelco Group, and Fairmount Santrol Holdings Inc., a publicly traded supplier of sand-based proppants and industrial minerals. The merger positioned the new entity as a diversified provider of materials for , industrial, and specialty applications, leveraging Unimin's strengths in silica and kaolin production with Fairmount Santrol's expertise in frac sand for hydraulic fracturing. The transaction was structured as a tax-free reorganization involving and stock consideration, with Fairmount Santrol merging into a wholly owned of Unimin, followed by the 's merger into Unimin itself, which then rebranded as Covia. Fairmount Santrol shareholders received $170 million in and acquired a 35% equity interest in Covia, while Sibelco retained 65% ownership. The deal, initially announced in late 2017, received shareholder approval from Fairmount Santrol on May 31, 2018, and cleared regulatory hurdles without significant antitrust issues, reflecting the complementary rather than overlapping operations of the two firms. Post-merger, Covia commenced trading on the under the CVIA, inheriting Fairmount Santrol's public listing status. , who had served as President and CEO of Fairmount Santrol since 2015, transitioned to lead Covia in the same capacity, overseeing an integrated operation with projected annual synergies of approximately $150 million from efficiencies, savings, and operational overlaps. The formation emphasized across , processing, and , enabling Covia to serve key markets like oil and gas fracturing (via proppants) and construction (via silica products), amid a backdrop of rising U.S. production driving demand for such materials.

Post-Merger Evolution and Separation

Following the merger's completion on June 1, 2018, Covia integrated the operations of Unimin Corporation and Fairmount Santrol Holdings Inc., establishing a diversified platform supplying silica-based proppants to the energy sector alongside industrial minerals such as , , and kaolin for applications in , ceramics, , and coatings. The combined entity leveraged synergies from complementary supply chains and product portfolios, including optimizations that led to the termination of certain non-core projects to prioritize capital efficiency. Through the late and early , Covia adapted to cyclical demand fluctuations, particularly in markets influenced by price volatility, while expanding industrial offerings through targeted acquisitions, such as a silica facility in to bolster its portfolio. This period emphasized operational resilience, with the company maintaining a global footprint serving North American producers and diverse industrial clients. On January 16, 2024, Covia announced its intent to separate its and industrial divisions to enable distinct strategic paths, standalone capital structures, and specialized management focused on each segment's unique market dynamics and growth opportunities. The business, centered on proppant and for and production firms, would operate independently to pursue scale in oilfield services, while the industrial arm would concentrate on high-purity minerals for non-energy applications. The separation was finalized on July 1, 2024, with Covia Holdings LLC restructured into two privately held entities: Covia Solutions, headquartered in , under President and CEO Bruno Biasiotta, serving industrial markets; and Covia Energy, LLC, based in , led by President and CEO Michael Segura, targeting energy sector proppants. This bifurcation allowed each successor to address tailored investment needs without cross-subsidization amid differing sector cycles. Subsequently, on November 4, 2024, Covia Energy merged with Black Mountain Sand to form Iron Oak Energy Solutions, a North American proppant supplier, while Covia Solutions continued as an independent minerals provider for industrial uses.

Financial Trajectory

Early Financial Growth

Following its formation on June 1, 2018, through the merger of Unimin Corporation and Fairmount Santrol Holdings Inc., Covia Holdings Corporation established a robust financial platform characterized by combined revenues of approximately $2.32 billion for the full year 2018. This scale reflected the integration of complementary assets in silica-based minerals, enabling expanded market reach in and industrial applications. The merger unlocked synergies in and operational efficiencies, with projections estimating over $1 billion in long-term value creation from cost reductions and enhanced logistics. Adjusted EBITDA reached $455.9 million on a basis for 2018, underscoring initial profitability from the enlarged entity despite $51.1 million in one-time integration expenses. The industrial segment contributed to early growth, with revenues increasing by 3%, or $20 million, primarily from annual price adjustments implemented at the start of 2018. This segment, comprising about 40% of total revenues, benefited from steady demand in , , and markets, supported by Covia's diversified reserves and production facilities. In the energy division, which accounted for roughly 60% of revenues, performance was bolstered in the first half of 2018 by heightened U.S. hydraulic fracturing activity amid oil prices averaging $65 per barrel, up from $51 in 2017. Proppant volumes rose in response to increased , with new facilities like the Crane plant achieving 16% utilization shortly after opening in July 2018. Post-merger quarterly results demonstrated momentum, as the second quarter of 2018 yielded adjusted EBITDA of $179 million after integration adjustments, signaling effective consolidation of Fairmount Santrol's operations into Covia's framework. These outcomes positioned Covia to capitalize on its status as a leading supplier of and industrial minerals, with reported full-year 2018 revenues of $1.84 billion on a non- basis, reflecting the partial-year impact of the merger. Early efforts focused on capacity expansions and rail upgrades at key sites, laying groundwork for sustained volume growth prior to softening markets later in the year.

2020 Bankruptcy Filing and Restructuring

On June 29, 2020, Covia Holdings Corporation and 27 affiliated U.S. subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. The filing was a prepackaged reorganization, supported by a restructuring support agreement with the company's senior secured lenders holding over 97% of the debt, aimed at reducing long-term obligations by more than $1 billion. This action followed a sharp decline in demand for Covia's proppant products, driven by low oil and , reduced hydraulic fracturing activity, and the economic impacts of the , which strained the company's liquidity and ability to service its debt. Concurrently, the suspended trading in Covia's (ticker: CVIA) effective June 30, 2020, and initiated delisting proceedings due to the bankruptcy filing. The restructuring process focused on and operational simplification, converting approximately $900 million of secured into equity in the reorganized , thereby eliminating existing equity holders including owner Sibelco, which held about 65% of the shares prior to emergence. Covia reduced its long-term by roughly $750 million and cut fixed costs, including lease obligations, while securing $175 million in exit comprising $105 million in and $70 million available under a new $135 million facility. The plan enhanced operational flexibility by rejecting certain underutilized contracts and streamlining the capital structure to better align with market conditions in the industrial minerals sector. On December 31, 2020, the court confirmed the modified first amended Chapter 11 plan, allowing Covia to emerge from the same day as a privately held entity owned by its former creditors. The swift six-month timeline reflected the prepackaged nature of the filing and broad creditor support, positioning the company for recovery amid stabilizing energy markets. No significant operational disruptions occurred during the proceedings, with Covia continuing normal business activities under .

Recovery and Recent Performance

Following its emergence from Chapter 11 bankruptcy on December 31, 2020, Covia reduced its long-term debt by approximately $750 million, lowered fixed costs by $300 million, and secured $175 million in , enabling greater operational flexibility and a strengthened . This eliminated over $1 billion in obligations overall, positioning the company to capitalize on recovering demand in industrial minerals while mitigating exposure to volatility. Post-restructuring performance showed signs of stabilization and growth, particularly in non-energy segments like silica for glass manufacturing and . By 2023, as a combined entity, Covia achieved revenues of approximately $1.5 billion, reflecting a rebound from pandemic-era lows driven by diversified applications in , automotive, and products. EBITDA exhibited a exceeding 23% from 2020 to 2024, underscoring improved margins through cost discipline and market recovery, though energy-related frac sand volumes remained sensitive to oil price fluctuations. In early 2024, Covia announced and later completed the separation of its and industrial businesses into distinct entities—Covia and Covia Solutions in —to optimize capital allocation and reduce cyclical risks associated with hydraulic fracturing demand. This strategic divestiture, effective by mid-2024, allowed the industrial-focused successor to prioritize stable end-markets, with projected 2025 revenues under $1 billion and annual EBITDA of $230–260 million, supporting a 'B' with stable outlook from . The move enhanced long-term resilience amid fluctuating commodity cycles, though it marked the end of the integrated structure formed in 2018.

Securities Violations and SEC Actions

In December 2020, the U.S. Securities and Exchange Commission (SEC) instituted settled administrative proceedings against Covia Holdings Corporation and its predecessor Fairmount Santrol Holdings Inc. for misleading investors regarding the performance of certain proppant products used in hydraulic fracturing. The SEC found that from 2016 to 2018, Fairmount disseminated materially false and misleading statements in offering documents and SEC filings about the conductivity of its "" proppants, claiming they provided "unparalleled conductivity" and superior performance compared to competitors, despite internal testing data indicating otherwise. These misrepresentations violated Sections 17(a)(2) and 17(a)(3) of the , which prohibit fraudulent conduct in the offer or sale of securities. The investigation stemmed from an SEC subpoena issued on March 18, 2019, which Covia disclosed publicly on March 22, 2019, prompting a decline in its stock price. Covia and Fairmount neither admitted nor denied the SEC's findings but agreed to from further violations. As part of the settlement, the companies were ordered to pay a and several civil penalty of $17 million, satisfied through a by Covia, with funds directed to a Fund for distribution to harmed investors. The proceedings occurred amid Covia's Chapter 11 bankruptcy filing in July 2020, which was attributed primarily to market downturns in oil and gas rather than the disclosure issues. No additional SEC enforcement actions against Covia for securities violations have been publicly reported as of October 2025. The settlement highlighted risks in pre-merger disclosures for the 2018 combination of Fairmount Santrol and Unimin Corporation, but the SEC did not pursue charges against individual executives. Investor class actions followed the SEC probe, alleging broader , though these were separate from the regulatory settlement.

Employment and Other Disputes

In late 2024, former Covia senior executives Brian Richardson and Charles Giaudrone initiated arbitrations in claiming unpaid severance benefits following their terminations. They subsequently filed lawsuits in seeking declaratory relief on their entitlement to units, alleging that Covia's July 2024 reorganization qualified as an "Energy Divestiture" under their agreements. On June 9, 2025, Judge Meghan Adams granted Covia's motion to stay the proceedings pending outcomes, ruling that the parties' agreement controlled despite the plaintiffs' reliance on a forum selection . Prior to the 2018 merger forming Covia, Unimin Corporation—a key predecessor—resolved employment separations with executives through mutual settlements. In one case, Unimin and Scott Preston, its former and , agreed to terminate his employment and release all claims, with Preston receiving a lump-sum payment, 18 months of continued health benefits, transfer of a company vehicle, and outplacement services. A similar separation and severance agreement was executed with Andrew G. Bradley, addressing his departure from Unimin. In June 2025, Covia Holdings LLC filed suit against Tshitenge in the U.S. District Court for the Northern District of under the , alleging misappropriation potentially tied to a former employee's departure, though specific employment-related details remain limited in . No large-scale class actions or union-related labor disputes have been publicly documented for Covia or its predecessors.

Safety, Sustainability, and Impact

Operational Safety Achievements

Covia has prioritized operational safety through metrics such as the total recordable incident rate (TRIR) and all-incidence rate, targeting year-over-year improvements as part of its Safety First value. In its 2023 Corporate Responsibility Report, the company reported a 21% reduction in the all-incidence rate compared to the prior year, achieved via the Hierarchy of Controls framework emphasizing hazard elimination and engineering solutions. This progress reflects internal efforts like safety bootcamps, refreshers, and behavioral reinforcement programs for operations personnel. The company recognizes top-performing facilities with the annual President's Safety Award, based on criteria including low incident rates, proactive risk management, and cultural adherence to safety protocols. Recipients include the plant in 2024, in 2023, Elco, Illinois in 2022, and Tlaxcala, Mexico in 2021, highlighting consistent excellence across North American and international sites. Externally, Covia earned the 2024 NIOSH and Innovations in the Ergonomic Risk Awareness and Prevention category for partnering with Soter Analytics on AI-driven wearable sensors to detect and mitigate musculoskeletal risks in real-time, reducing injury potential at operations. Earlier, its Roff, facility received a National Mining Association Sentinel of Safety in 2018 for 91,400 hours without lost-time injuries. These achievements are supported by annual Safety Day events, which review TRIR and lost-time incident rate (LTIR) data while promoting awareness of leading indicators like near-misses. Covia's self-reported metrics, corroborated by third-party awards, indicate a focus on preventive technologies and training to sustain low incident levels in high-risk environments.

Environmental and Community Efforts

Covia has established as a core pillar of its corporate responsibility strategy, focusing on resource preservation and across its and operations. The company pursues 2030 goals that include a 20% reduction in Scope 1 and 2 greenhouse gas emissions intensity per ton from a 2021 baseline, alongside targets for 90% water recycling at water-stressed sites and enhanced through improved . In its 2024 Corporate Responsibility Report, Covia reported an 11% reduction in emissions intensity from the baseline, achieved through $13 million invested in energy efficiency projects, such as equipment upgrades and process optimizations. Land reclamation efforts emphasize restoring disturbed sites, with a targeted improvement in the ratio of rehabilitated to disturbed land. In 2024, Covia achieved a 1:2 reclamation ratio, up from 1:6 in 2023, supported by increased investments at facilities in Menomonie, Hephzibah, and Junction City. Water management advanced with 100% reporting of consumption at water-stressed sites, aligning with broader practices that include conservation and alignment with UN for , clean water, and life on land. Community efforts are coordinated through the Covia Foundation, which oversees philanthropic initiatives across four pillars: , environment, and wellness, and . The foundation aims to donate $10 million by 2030, with $900,000 distributed in 2024—representing 42% progress toward the goal since the baseline—and over $1 million in 2023 supporting local programs. Annual Covia Cares Action Days promote employee volunteerism, while Community Action Plans at facilities foster proactive engagement on environmental and social issues, including support for those impacted by events like Hurricane Helene in 2024. These initiatives integrate with broader social goals, such as veteran support networks and ergonomic workplace improvements at sites including Guion, , and Huntingburg.

References

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