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American Resources expands Carnegie 2 production

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World Coal,

American Resources Corp., through its subsidiary, American Carbon Corp., a leading producer of high quality metallurgical and specialty carbon, has announced that it has expanded production at its Carnegie 2 metallurgical carbon mine in Pike County, Kentucky, by adding a second operating section. It is expected that the production from this section will initially ramp up to approximately 9000 to 12 000 additional tpm.

Mark Jensen, CEO of American Resources, comments:

“Our McCoy Elkhorn complex is a showcase operation that possesses a significant opportunity for growth from our internal portfolio of assets. We applaud the hard work that the men and women onsite have put forth and the effort to achieve this growth safely and efficiently and to capitalise on the strength of the metallurgical carbon market. Adding a second operating section at this already producing mine is one of the highest margin growth opportunities we can execute upon as a company, given no additional fixed costs and minimal additional variable costs are needed to achieve the incremental growth of production. Now that this has been achieved, we look forward to focusing on additional growth expansion at the McCoy Elkhorn complex, while we continue to minimise capex costs and maximise speed to market.”

American Resources Corp. over the years has acquired a significant fleet of underground and surface equipment that it can utilise to expand production. This new expansion at Carnegie 2 is utilising almost entirely owned equipment that the company has been able to acquire over the years. The company is still in possession of over three additional full operating sections of equipment that it intends to use for Carnegie 1 expansion, the company’s upcoming Mine #15A expansion, as well as its Wyoming County Coal LLC complex that it is currently developing. In the current market, owning quality assets and equipment for efficient growth offers a significant competitive advantage, given the current tightness in the equipment and infrastructure marketplace.

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