(Alliance News) - Bens Creek Group PLC said on Friday it recorded its highest ever monthly production despite closing for the Thanksgiving holiday.
The owner of a metallurgical coal mine in the US state of West Virginia supplying the steel industry said it produced a total of 43,736 clean tonnes from October 26 until November 30.
It represented the highest monthly production to date, exceeding the original peak monthly production target by 18%. Bens Creek outlined its peak annual production target of 444,000 tonnes by 2025, or 37,000 tonnes per month, at the time of admission to trading on AIM on October 13 last year.
Total raw coal production in the year that ended March 31 was around 64,800 tonnes, of which two-thirds or around 43,500 tonnes were sold in the final quarter.
"For the first time we have produced circa 40,000 tons in a month. The past month has been a busy transitional period as we moved from mining contractors to an owner operator model for earth removal. Armed with our fully operational fleet and the deployment of our second high wall miner, we look forward to 2023 with confidence. We remain on track to meet our monthly production targets and achieving in excess of 70,000 clean tons per month," said Chief Executive Officer Adam Wilson.
Shares in Bens Creek were up 3.9% to 25.18 pence in London on Friday morning.
By Greg Rosenvinge; gregrosenvinge@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
