7th Oct 2014 07:30
LONDON (Alliance News) - Atlantic Coal PLC Tuesday said production increased at its Stockton Anthracite Mine, located near Hazleton, Pennsylvania, despite severe winter weather hampering operations at the beginning of the year.
Clean coal production rose to 33,712 tonnes in the third-quarter, from 28,629 tonnes in the same period in 2013, although clean coal sales decreased to 37,093 tonnes, from 40,462 tonnes a year earlier. As a result, its clean coal stockpile stands at 8,839 tonnes, an increase from the 3,646 tonnes being held in the third-quarter of 2013.
Clean coal production for the nine months to the end of the third quarter reached 118,279 tonnes, up from 109,455 tonnes in the same period in 2013.
Its run of mine production, the mined ore that can be processed without further crushing, increased to 57,624 tonnes in the third-quarter, from 50,905 tonnes a year earlier. Its run of mine stockpile stands at 16,446 tonnes, up from 59,395 tonnes a year ago.
"Our third-quarter volumes were strong and I am pleased to report that at the end of September we had achieved a Stockton Mine record production level and are on course to break the mine's annual production record," said Managing Director Steve Best.
"This is particularly pleasing given the poor start to the year caused by the severe winter weather. I am also pleased to report that market price levels continue to improve and demand from all market sectors is strong," he added.
Atlantic shares were up 6.8% to 0.182 pence per share Tuesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Atlantic Coal