MBU Capital have announced the successful completion of Ben’s Creek Carbon mine.
Set over approximately 10 000 acres in Wharncliffe, West Virginia, US, Ben’s Creek Carbon mine holds an estimated 22 million t of metallurgical coal reserves, which will be extracted through high-wall mining and used exclusively for the production of high strength steel. Meanwhile, a 5-mile dedicated railway load-out gives the operationally-ready deep well mine direct access to the Norfolk Southern Railway network.
Government expenditure in largescale national infrastructure projects combined with growth in the construction and the automotive sectors, has spurred the high strength steel market, which is expected to grow by CAGR 7.4% between 2020 – 2027 globally. This, in turn, has created opportunities for asset backed investments in metallurgical coal mining and steel production, a core pillar of MBU Capital’s investment strategy.
Adam Wilson, Head of Natural Resources at MBU Capital, said: “The manufacturing of steel delivers the goods and services that society needs, from healthcare, telecommunications, improved agricultural practices, better transport networks, to clean water and access to reliable and affordable energy. But without met coal, there is no steel.”
“We forecast strong demand for high strength steel over the coming decade, and this acquisition will significantly add to MBU Capital’s portfolio of precious metals and compound materials.”
Once Ben’s Creek Carbon becomes fully operational in July 2021, MBU Capital anticipates the acquisition will directly create and sustain jobs and will also contribute to the economic development of the region in other meaningful ways.
Read the article online at: https://www.worldcoal.com/coal/27012021/mbu-capital-completes-bens-creek-carbon-mine-acquisition/