Bens Creek Group, Coal sales and delivery update

Bens Creek (AIM: BEN) has announced the completion of the delivery of approximately 44,000 tonnes of coal via four trains to India’s largest steel producer. The coal was delivered to a ship docked at the Port of Norfolk.

The order, placed through the company’s off-take partner, Integrity Coal Sales Inc., is part of a larger order to be fulfilled by the end of July 2023. The customer has the option to order more coal, up to double the current order, post-July 2023, and the company is confident that the customer will do so.

This is the first time that the company has been the leading supplier to fill a ship. The company can now directly supply a ship, on a monthly basis, with anywhere between 40,000 and 70,000 tonnes of high-quality Bens Creek coal, a brand that is specifically requested by the customer. The company can now offer its popular branded coal product directly to the customer, uncontaminated by other producers, thus firmly establishing the Bens Creek coal brand, which is in high demand from India’s largest steel company.

As previously reported, the company is close to having a second operational highwall miner, which will result in increased production. The company anticipates that it will be able to make enough deliveries of Bens Creek coal each month to fill a ship once it is operating at full capacity.

Adam Wilson, CEO of Bens Creek, said, “The completion of the first part of this order is a milestone achievement, validating the quality of our coal product while also confirming our ability to fulfil substantial orders for a marquee customer on time. This is our first ‘all-ship’ order, and we are confident that we will receive more such orders.”

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