Coal, a mineral asset that would figure significantly in West Virginia's history, was discovered in 1742. Other important natural resources are oil, natural gas, and hardwood forests, which cover about 75% of the state's area.
In 1742, John Peter Salley took a trip across the Allegheny Mountains and reported an outcropping of coal along the Kanwha River. He and his companions named this tributary the Coal River, and his report became the first reference to coal in what is today West Virginia. Although coal was known to occur throughout much of West Virginia, no extensive mining took place until the mid-1800s. Small amounts of coal were used by crossroads blacksmiths or by the settler whose cabin stood near an outcrop. In 1810, the people of Wheeling began to use coal obtained from a nearby mine to heat their dwellings. By 1836, the western Virginia coal fields had received so much attention that Virginia's foremost geologist, Professor William B. Rogers, was sent to visit the mines and analyze the coal in eight counties. The total coal production in 1840 for the State was about 300,000 tons, of which 200,000 tons was used in the Kanawha salt furnaces and most of the remainder was consumed by factories and homes in Wheeling.
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http://www.wvgs.wvnet.edu/WWW/GEOLOGY/geoldvco.htm