The next year he secured a lease on the Montevallo coal mines and set to work extracting coal that summer. He purchased the mines outright in 1875 and named the surrounding settlement Aldrich, leasing the operation to his younger brother William while he prospected for new seams. He incorporated the Jefferson Coal Company in the town of Morris, from which he supplied fuel for the first successful coke-fired furnace in the Birmingham District, helping to establish the area as a center of iron and steel production.