By Elena Vardon
Bens Creek Group said its production for the first half of fiscal 2024 more than doubled on year and expects it to increase further.
The West Virginia-based mining company on Wednesday said it produced 204,998 metric tons of clean metallurgical coal in the six months ended Sept. 30. This compares with 99,928 tons in the same half-year period the previous year.
It said it made 50,100 tons in September alone, which is a monthly production high. It expects production in October to be higher than in September as its two Highwall Miners–which suffered periods of lower or no production during the half-year–will be in full operation.
“The company expects to be able to continue the growth in production into the next quarter,” Chief Executive Adam Wilson said, adding this increase is also enhanced by lower costs per ton since June and the rebound in metallurgical coal prices.
At 0744 GMT, shares were up 0.75 pence, or 5.5%, at 14.5 pence.
Write to Elena Vardon at [email protected]
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