TIDMATC

RNS Number : 5453B

Atlantic Coal PLC

07 January 2015

Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining

Atlantic Coal plc ("Atlantic" or the "Company")

Record production at Stockton Mine

Atlantic Coal, the AIM listed opencast anthracite coal production and processing company with primary activities in Pennsylvania, USA announces that the Company's Stockton Mine achieved record production in 2014.

HIGHLIGHTS

-- Record production of 165,052 at Atlantic's Stockton Mine in 2014 with an increase of over 8% from the 2013 figure of 151,265

   --    Strong sales volumes and increased anthracite prices for Stockton anthracite 
   --    New large capacity Komatsu PC3000 excavator scheduled for delivery to Stockton in Q1 2015

Stockton Mine achieved record production of 165,052 tons in 2014. This performance was particularly impressive given the depressed Q1 2014 production caused by the worst winter in Pennsylvania for 20 years.

The Stockton Mine also witnessed strong sales volumes and increased anthracite prices for Stockton anthracite. This performance gave the ATC Board the confidence to order a new high capacity (19.5 cubic metres bucket) Komatsu PC3000 excavator at a cost of US$5m for delivery to Stockton in February 2015. This excavator is perfectly suited to load the fleet of Komatsu 100 ton dump trucks acquired in 2014.

Steve Best, ATC's MD said "We have known for some time that in Stockton we have one of the best run anthracite mining operations in the USA but to achieve record production in 2014 gives me great satisfaction and I also commend the excellent performance of the company's workforce on this achievement. The record production, strong sales volumes and increasing prices gave the Atlantic Board the confidence to order a new high capacity Komatsu PC 3000 excavator which will be perfect for loading our new fleet of Komatsu 100 ton dump trucks acquired in 2014. This, together with the rapidly falling cost of fuel, our biggest single item of expenditure at Stockton, gives me great confidence to look forward to a good year for both Stockton and ATC in 2015."

**ENDS**

For further information on the Company, visit: www.atlanticcoal.com or contact:

 
 Steve Best    Atlantic Coal plc         Tel: 020 3328 5670 
 Nick Naylor   Allenby Capital Limited   Tel: 020 3328 5656 
 Alex Price    Allenby Capital Limited   Tel: 020 3328 5656

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCUBSURVUAARAR

Atlantic Coal (LSE:ATC)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Atlantic Coal Charts.
Atlantic Coal (LSE:ATC)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Atlantic Coal Charts.