BENS CREEK GROUP PLC (Alliance News) - Bens Creek Group PLC shares were up on Friday, after it confirmed the provision and delivery of a second highwall miner, unit 77.
Bens Creek is a mining company focused on North America. Its shares were up 9.4% to 28.18 pence each in London on Friday morning.
In December, Bens Creek said it was selling its highwall miner for USD3.6 million to Civil LLC. Civil is a mining company with operations in Virginia, USA.
At the time, Bens Creek said it still has access to two highwall miners through contractor Mega Highwall Mining LLC. The first miner is currently being deployed on the Bens Creek site, with the second highwall miner set to be in place bin January 2023.
On Friday, Bens Creek said it has amendmed to its agreement with its highwall mining contractor Mega Highwall to confirm the provision and delivery of a second highwall miner, unit 77, by the end of January.
It noted that the amended contract gives the company a right, but no obligation, to an additional, third highwall miner from Mega Highwall.
Mobilisation of the components of unit 77 began Thursday and some equipment is already on site, it added. The company expects production to start during February, once the highwall miner has been re-assembled.
Chief Executive Adam Wilson said: "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."
By Sophie Rose, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
