Bens Creek Starts Delivering Metallurgical Coal Ahead of Plan, W.Va.
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North America-focused metallurgical coal miner Bens Creek Group said on Monday that, following discussions with its offtake partner Integrity Coal Sales of New York, it had started the sale and delivery of metallurgical coal.
The firm said the initial agreed volume was to deliver the equivalent of 8,840 clean tons of ‘Hi Vol B’ coal.
Payment for the initial delivery was expected to be made over the next 10 days.
The company said the early delivery of metallurgical coal to Integrity accelerated its generation of revenue by more than one month, and started the fulfilment of the requirement under the offtake agreement announced on October 21, which provides for the delivery of 22,000 clean tons per month.
“I am delighted to announce that Bens Creek has commenced delivery of production to the metallurgical markets ahead of schedule. This speaks well of the company and its wider production team, which has helped us to develop and mine a dormant reserve within a short period of time,” said Chief Executive Officer Adam Wilson.
“Our ability to commence delivery to a marketing entity, like Integrity, reaffirms the quality of reserves that Bens Creek possesses,” added Wilson.
Source: Sharecast
About Bens Creek Group
Bens Creek Group s an AIM listed holding company set up to own and operate metallurgical coal mines in North America. The company owns the Ben’s Creek mining project in West Virginia.
To stop by Bens Creek Group’s website, CLICK HERE
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