Commencement of mining on new permit area

RNS Number : 0984E

Bens Creek Group PLC

26 October 2022

 

26 October 2022

Bens Creek Group plc

("Bens Creek" or "Company" or the "Group")

Commencement of mining on new permit area

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, is pleased to announce that following the recent permit approval announced on 22 September 2022, the Company can confirm that the creation of the required bench to support and position the highwall miner is now complete and the highwall miner has been moved into position on the new permitted area. The Company can also confirm the commencement of mining on the new permitted area.

Additionally, the Group has arranged for the delivery and positioning of its second highwall miner from Mega Highwall mining following the exercise of the Group's option as announced on 27 June 2022, and with whom the company is continuing its annual revolving contract. The Group has also commenced the preparation of the bench to support the position of the second highwall miner which will also be utilised within the newly permitted area.

Adam Wilson, Chief Executive Officer of Bens Creek, commented:

"This is a landmark occasion moving operations onto the new larger permit area (granted on September 21st.) which can support two highwall miners, will enable us to increase production levels and meet our operational targets. 

We had hoped that the permit would be delivered earlier so that we might have commenced the extensive preparatory work required to allow the highwall miners to become operational sooner, however with the permit now available and the first highwall miner in place we are confident that the work to build the second bench will be swiftly completed allowing us to deploy the second highwall miner when it arrives.

We have also now completed the acquisition of the necessary rolling stock and associated equipment. The ownership of this equipment will allow us to maintain the process of creating the support benches ourselves, without relying upon outside contractors, as the highwall miners move across the seam".

For further information please contact:

Bens Creek Group plc Adam Wilson, CEO Murat Erden, CFO	[phone]
Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Athanas / Nick Naylor / George Payne (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)	[phone]
Optiva Securities Limited (Joint Broker) Christian Dennis / Mariela Jaho / Daniel Ingram	[phone]

 

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