ATH Resources gains planning approval for Langton
November 26 2009 - 6:00AM
UK Regulatory
TIDMATH
RNS Number : 1335D
ATH Resources plc
26 November 2009
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| Press Release | 26 November 2009 |
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ATH Resources plc
("ATH Resources" or "the Group")
ATH Resources gains planning approval for Langton regeneration scheme
ATH Resources plc, one of the UK's largest coal producers, is pleased to
announce that its application for planning consent to develop the proposed
regeneration scheme at Langton, Nottinghamshire, has been approved by Derbyshire
County Council. This follows an appeal by the Group against an earlier decision
made by the Council who ruled against the application.
The Group plans to commence plant construction at Langton as early as possible
with coal production from the site, expected to begin in the second half of
2010. The operation is expected to produce approximately 175,000 tonnes per
annum over a period of 2.5 years and will generate employment for 35
people. Restoration of the site following extraction and washing will take a
further 6 months.
Commenting, Tom Allchurch, Chief Executive of ATH Resources, said: "We
are delighted to have received approval to undertake the regeneration of the
site at Langton and that the benefits of this project to the area have
ultimately been recognised. The development of the scheme will clean up and
regenerate an area despoiled by former mine activity and will create valuable
local employment. This is an extremely positive step for the Group as we can
now return our Regeneration division to production."
- Ends -
For further information:
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| ATH Resources plc | |
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| Tom Allchurch, Chief Executive | Tel: +44 (0) 1302 760 462 |
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| tom.allchurch@ath.co.uk | www.ath.co.uk |
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| Seymour Pierce Ltd | |
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| Sarah Jacobs / Richard Feigen | +44 (0) 207 107 8000 |
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Media enquiries:
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| Abchurch | |
+-------------------------------------------+---------------------------------+
| Charlie Jack / George Parker | Tel: +44 (0) 20 7398 7719 |
+-------------------------------------------+---------------------------------+
| george.parker@abchurch-group.com | www.abchurch-group.com |
+-------------------------------------------+---------------------------------+
Notes to Editors
ATH Resources is an AIM-listed operator of surface coal mines in the UK with
five operational mines in Scotland; Skares Road, Grievehill and Laigh Glenmuir
in East Ayrshire, Glenmuckloch in Dumfries and Galloway and Muir Dean in Fife.
The Company is currently the third largest producer of coal in the UK producing
approximately 2 million tonnes per annum. Coal is used to generate around a
third of the UK's electricity and the Company now holds coal supply contracts
with four of the UK's main electricity generating companies.
The management team has been in place since 1998. It acquired the rights to
operate (and subsequently acquire) the Skares Road mine with support from The
Alchemy Plan. Following ATH Resources' incorporation in October 2003, and backed
by a follow on investment from The Alchemy Plan, the Company acquired the
Garleffan mine in November 2003. Garleffan is currently being restored having
finished coaling in June 2006. ATH Resources listed on the AIM market of the
London Stock Exchange in June 2004.
In June 2005, having raised GBP18 million by way of an Open Offer, the Group
acquired two new opencast sites, Grievehill and Glenmuckloch in Scotland. The
acquisition increased the Group's reserve base by 160%.
In May 2006, the Group acquired ATH Regeneration a successful coal recovery,
land remediation and regeneration business with a particular focus on colliery
spoil heap reclamation projects. The acquisition, which was earnings enhancing,
allowed ATH to build on its skills as a regenerator of land, whilst developing
strong relationships with key English planning authorities. The Company has been
successfully integrated into the Group. The operational diversification that the
acquisition brings to the Group will be a significant driver of ATH's organic
growth going forward both in the UK and overseas and the business is actively
pursuing a number of projects in Australia.
For the year ending 28 September 2008, the Group achieved turnover of GBP76.9
million, an increase of 9% on its 2007 year end, while Operating Profit
increased by 8% to GBP11.9m for the same period.
Further information on ATH Resources can be found at www.ath.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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