Bens Creek Group plc, the owner of a recently re-opened metallurgical coal mine in North America supplying the steel industry, has announced that, following discussions with Integrity Coal Sales, Inc. New York (the company's offtake partner), the company has commenced the sale and delivery of metallurgical coal. The initial agreed volume with Integrity is to deliver the equivalent of 8840 clean t of Hi Vol B coal. Payment for this initial delivery is expected to be made over the course of the next 10 days.
The early delivery of metallurgical coal to Integrity accelerates by more than one month the generation of revenue by the company and starts the fulfilment of the requirement under the offtake agreement announced on 21 October 2021, which provides for the delivery of 22 000 clean tpm.
Adam Wilson, CEO, said: “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. Our ability to commence delivery to a marketing entity, like Integrity, reaffirms the quality of reserves that Bens Creek possesses.”
Read the article online at: https://www.worldcoal.com/coal/19012022/bens-creek-commences-first-coal-deliveries/