Bens Creek confirms second highwall miner, agrees option for third

13th Jan 2023 16:52

(Sharecast News) - American coal miner Bens Creek Group announced on Friday that it has signed an amendment to the agreement with its highwall mining contractor Mega Highwall Mining, to confirm the provision and delivery of a second highwall miner - unit 77 - by the end of January.

The AIM-traded firm said the amended contract continued to, under a right of first refusal, give it a right but no obligation to an additional third highwall miner should Bens Creek wish.

Mobilisation of the components of unit 77 started on Thursday, and some equipment had already arrived on site.

All required benching was complete, and once the highwall miner was re-assembled, production was expected to start in February.

"We are looking forward to the arrival of the second highwall miner and then assembling it on site," said chief executive officer Adam Wilson.

"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."

At 1624 GMT, shares in Bens Creek Group were up 8.74% at 28p.

Reporting by Josh White for Sharecast.com.