REG - Bens Creek Group PLC - Commencement of mining on new permit area

Bens CreekAnnouncement

26/10/2022 07:17

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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                                            +44 (0) 204 558 2300

 Adam Wilson, CEO

 Murat Erden, CFO

 Allenby Capital Limited (Nominated Adviser and Joint Broker)    +44 (0) 203 328 5656

 Nick Athanas / Nick Naylor / George Payne (Corporate Finance)

 Kelly Gardiner (Sales and Corporate Broking)

 Optiva Securities Limited (Joint Broker)                        +44 (0) 203 137 1902

 Christian Dennis / Mariela Jaho / Daniel Ingram

 

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