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Pin to quick picksBens Creek Share News (BEN)

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Bens Creek confirms second highwall miner, agrees option for third

Fri, 13th Jan 2023 16:52

(Sharecast News) - American coal miner Bens Creek Group announced on Friday that it has signed an amendment to the agreement with its highwall mining contractor Mega Highwall Mining, to confirm the provision and delivery of a second highwall miner - unit 77 - by the end of January.

The AIM-traded firm said the amended contract continued to, under a right of first refusal, give it a right but no obligation to an additional third highwall miner should Bens Creek wish.

Mobilisation of the components of unit 77 started on Thursday, and some equipment had already arrived on site.

All required benching was complete, and once the highwall miner was re-assembled, production was expected to start in February.

"We are looking forward to the arrival of the second highwall miner and then assembling it on site," said chief executive officer Adam Wilson.

"Once it is in place and fully operational, we expect to quickly improve production in line with our established programme.

"We are of course delighted to continue our very successful partnership with Mega Highwall Mining."

At 1624 GMT, shares in Bens Creek Group were up 8.74% at 28p.

Reporting by Josh White for Sharecast.com.

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IN BRIEF: Bens Creek knows no reason behind fall in share price

Bens Creek Group PLC - London-based mining company focused in North America - Notes recent drop in share price, and confirms it knows "no specific reason" for the share price movement. "The company confirms that there has been no material developments since the update released by the company on June 27 2022," the firm says.

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27 Jun 2022 14:58

IN BRIEF: Bens Creek expects boost to monthly production capacity

Bens Creek Group PLC - London-based mining company focused in North America - Says it expects an "increase in production capacity to up to 80,000 tons per month" at its two highwall miners. It says the supply of a second highwall miner by Mega Highwall Mining LLC will be completed during July this year. Bens Creek expects the second highwall miner to have a production target of between 32,000 and 40,000 tons of metallurgical coal per month.

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IN BRIEF: Bens Creek notes favourable report on West Virginia assets

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Bens Creek jumps monthly coal supply deal and positive price outlook

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