REG - Bens Creek Group PLC - Highwall miner update

Bens CreekAnnouncement

13/01/2023 07:00

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RNS Number : 6525M  Bens Creek Group PLC  13 January 2023

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                +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)

 WH Ireland Limited (Joint Broker)   +44 (0) 207 220 1666

 Harry Ansell / Katy Mitchell

 

 

 

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