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Pin to quick picksBens Creek Share News (BEN)

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Share Price Information for Bens Creek (BEN)

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Share Price: 0.175
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IN BRIEF: Bens Creek says railway track undamaged by severe flooding

Tue, 02nd Aug 2022 14:57

Bens Creek Group PLC - operates metallurgical coal mine in US state of West Virginia - Says the vast majority of its infrastructure is unaffected by the severe flooding experienced in the western part of the West Virginia and the Eastern Kentucky region since July 27. Says only the railway system suffered some damage to railway ties, and the volume of water having washed away ballast along several sections of the railway line. Bens Creek says the railway track itself did not suffer any damage. Says repairs to railway line have been made and passed an inspection undertaken by the rail operator yesterday, August 1.

Chief Executive Officer Adam Wilson says: "I need to thank our team, who worked tirelessly from Wednesday night both to allow the huge levels of water to flow down the Bens Creek mountain and into the Tug river, with minimal damage to property, and then to work around the clock again repairing the damage to our railway line."

Bens Creek adds the scheduling arrival of trains from Norfolk Southern at the Bens Creek site this coming week is expected to be unaffected, as the company ensured the functionality of the railway track following the unusual weather pattern.

Current stock price: 37.00 pence, up 1.4%

12-month change: up from 10.50 pence

By Xindi Wei; xindiwei@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Bens Creek falls as draws down USD9 million

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Bens Creek Group - owner of a metallurgical coal mine in the US state of West Virginia - Produces 112,342 clean tons of metallurgical coal between October 1 and December 31, reflecting a 53% increase from 73,655 tons in the same period in 2022. Says it was restricted in production in November and December because of a slowdown in the availability of trains in the quarter, particularly in December, which saw a build-up in inventory to around 90,000 tons. This was then reduced to less than 60,000 tons after some deliveries were completed. Notes that the reduced availability of trains was due to coal handling capacity issues at the Port of Norfolk. Chief Executive Officer Adam Wilson says: "This increased production is further enhanced by the reduction of costs per ton from June 2023, and the recent rebound in the metallurgical coal price from its lows of USD191 in August 2023 to USD250 at the current time."

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(Sharecast News) - North American metallurgical coal miner Bens Creek reported a significant first-half milestone on Thursday, as it produced 204,998 tons of clean metallurgical coal, marking a 105% increase compared to the same period last year.

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