Bens Creek said it executed an agreement with Avani Resources, its largest shareholder, for the delivery of three unit trains comprising a total of 33,000 short tons of Bens Creek High Vol B Metallurgical coal.
Delivery of the coal is expected to be made no later than the end of January 2024 with the sale in addition to existing and ongoing business, the West Virginia-based coal miner said in a statement.
Avani is paying a price in line with current market rates for the sale and purchase of High Vol B coal, it added, and in line with a non-exclusive sales and marketing agreement signed by the pair in July.
Adam Wilson, Bens Creek’s chief executive, said: "'We are delighted to book our first trade with Avani."
“It demonstrates their ongoing commitment to the business, and it is the first step to what will, we hope, become a burgeoning and profitable partnership,” he added.