Bens Creek Group PLC (AIM:BEN, OTC:BENCF) said it expects imminently to receive a permit to operate a second highwall miner at its site in West Virginia.
This will help production rise to 80,000t clean (160,000t raw) per month in the final quarter of 2022, the metallurgical coal miner said in a statement.
A further eight trains have been booked from September to December 2022, equivalent to 179k raw tons, to ship the additional coal.
Output totalled 64,800t raw in the year to end-March 2022 with production rising month-by-month since then between April and August, it said, while it has also moved from contracting to becoming an owner-operator, which will help costs.
Pre-tax profits in the year to March were US$25.3mln, which included a gain of US$33.7mln on the acquisition of the Ben’s Creek operating companies.
Operating losses were US$7.5mln, with an underlying deficit [adjusted EBITDA] of US$3.4mln.
Adam Wilson, chief executive, added: “Our rate of production continues to increase month on month following the restart of an idle preparation and wash plant. We anticipate further increased output as our rate of mining increases.
“Our expansion plans have already secured two contiguous sites adjacent to the Bens Creek operations, which has already enhanced our coal reserves, and is expected in due course to be subjected to further testing and drilling to quantify these into resources.”