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Atlantic Coal restocking Stockton with Komatsu machines

Pennsylvania-focused coal miner Atlantic Coal (LON:ATC) is kitting out its Stockton mine with new Komatsu equipment.

The heavy plant machinery is expected to help the firm continue to increase production and exploit a new area of virgin coal it is moving into.

A PC3000 hydraulic excavator has been delivered and the firm has ordered a further ten items from Midlantic, a subsidiary of Komatsu - the world’s second largest manufacturer of heavy plant.

The machinery is being funded through an asset backed lease purchase agreement costing US$20 million over six years.

Tim Reilly, of Midlantic, said: “We are delighted that Komatsu are now in an effective partnership with Atlantic at Stockton and also look forward to putting together equipment and finance packages for new Atlantic mines and developments.”

Atlantic's managing director Steve Best, added: "The new plant will be utilised across the full range of our mine operations at Stockton and comes at an opportune time as we move into an area of high quality reserve of virgin coal.

"We are also pleased to continue our relationship with Midlantic and Komatsu as we move towards Komatsu as our exclusive equipment supplier for Stockton and potential future developments.

"We look forward to updating you on both Atlantic and Stockton Mine progress.”

Giles Gwinnett
Giles Gwinnett
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Normally it wouldn’t merit mentioning the share buying activity of the wife of the MD and a non-executive director. However in the case of Atlantic Coal, they are two in a series of stock purchases dating back to October that have piqued the interest of investors. In that time the share price has advanced around 45%.

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