Shares in Bens Creek surged by 17% on the news that its two highwall mining machines have returned to full production. The West Virginia-based mining company announced that both of its highwall miners have resumed double shift production, following a temporary period of reduced output due to a mining incident. This development is highly significant, particularly when combined with the company's record-breaking coal production month in August, according to Chief Executive Adam Wilson.
During August, Bens Creek achieved a milestone by producing approximately 42,000 metric tons of clean coal. This marked the highest monthly production in the company's history and included an additional 10,000 tons from underground mining operations. Moving forward, the mining company anticipates that coal production in September will exceed the numbers achieved in August. It expects to generate around 30,000 tons of coal from underground mining alone.
As a result of these positive developments, shares in Bens Creek have risen by 12% or 1.75 pence to reach 16.25 pence at 0845 GMT.