(Alliance News) - Bens Creek Group PLC on Friday said it has completed the delivery of 44,000 tonnes of coal to an Indian steel producer.
The North America-focused mine operator said the order, which was delivered to a ship at Norfolk, Virginia using four trains, is part of a larger order made through its offtake partner Integrity Coal Sales Inc, which will be completed by July 2023. Bens Creek said the unnamed steel producer is "India's largest".
The firm said the customer has the right to order up to double the current order after July this year, adding that it is confident the customer will do so.
Bens Creek said it is the first time it has taken the lead in filling a ship, adding that it is now able to fill a ship with between 40,000 and 70,000 tonnes of coal on a monthly basis.
The company said its Bens Creek branded coal was specifically requested by the customer, from which it said it is seeing "significant demand".
Bens Creek added that it is close to having a second operation highwall miner which will enable it to increase production and allow sufficient capacities of coal to fill a ship each month.
Chief Executive Officer Adam Wilson said: "The completion of the first part of this order is a milestone achievement providing validation of the quality of our coal product, as well as confirming our ability to complete substantial orders to a marque customer on time. It is the first 'all ship' order that we have received, and we are confident that we will see more."
Bens Creek shares rose 7.9% to 17.00 pence each in London on Friday morning.
By Harvey Dorset, Alliance News reporter
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Bens Creek (BEN)