Last checked at 13 Jan 2023 07:00
13 January 2023
Bens Creek Group plc
("Bens Creek", the "Group" or the "Company")
Highwall miner update
Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that, further to the Company's announcement on 22 December 2022, it has signed an amendment to its agreement with its highwall mining contractor Mega Highwall Mining LLC ("MHW") to confirm the provision and delivery of a second highwall miner, unit 77, by the end of this month.
The amended contract with MHW continues to, under a right of first refusal clause, give the Company a right but no obligation to an additional, third highwall miner from MHW should Bens Creek wish to exercise it.
Mobilisation of the components of unit 77 commenced yesterday and some equipment has already arrived on site. All required benching is complete and once the highwall miner has been re-assembled production is expected to start during February 2023.
Adam Wilson, Chief Executive Officer of Bens Creek, commented:
'We are looking forward to the arrival of the second highwall miner and then assembling it on site. 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.'
For further information please contact:
Bens Creek Group plc Adam Wilson, CEO Murat Erden, CFO
| +44 (0) 204 558 2300 | |
Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Athanas / Nick Naylor / George Payne (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking) | +44 (0) 203 328 5656 | |
WH Ireland Limited (Joint Broker) Harry Ansell / Katy Mitchell |
+44 (0) 207 220 1666 | |