Bens Creek Group PLC - London-based owner of metallurgical coal mine in West Virginia - Confirms a replacement highwall miner equipment, unit 81, from its contractor Mega Highwall Mining LLC, has arrived at site and has begun operating.
This comes eight weeks after components of highwall miner unit 77 arrived at the site following a short delay, but electrical testing was "unobtainable," so a replacement was "the only alternative."
Chief Executive Officer Adam Wilson said: "While we are obviously disappointed that we wasted considerable time with a highwall miner which proved to be unusable, we are delighted at the speed with which Mega Highwall Miner have moved to correct the problem. We are now in the position to advance quickly to full production and deliver on our commitment to our shareholders."
Current stock price: 18.00 pence, up 7.5%
12-month change: down 80%
By Sabrina Penty, Alliance News reporter
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Bens Creek (BEN)