AIM-listed anthracite coal mining company Atlantic Coal, which has operations in Pennsylvania, USA, has announced an increase in production and overall operational performance for Q1 ended 31 March 2013 from its Stockton Anthracite mine located near Hazleton, Pennsylvania.The company said that operational performance continues to improve at Stockton with record production, revealing a 67% increase in clean coal produced to 53 131 t in comparison with 31 729 t in Q1 2012. As demonstrated by these positive figures for Q1 2013, the production of high quality anthracite at Stockton has consistently increased quarter on quarter, since the completion of the Norfolk Southern Railroad diversion nearly a year ago and the implementation of operational improvements. “We are therefore delivering on our strategy of increasing production at Stockton, improving operational performance, and utilising our revised mine plan and personnel to maximise efficiencies, which enables us to look ahead with confidence with regards to the performance of this asset,” explains Atlantic Coal MD Steve Best.
Antlantic Coal further pointed out that it achieved a 91% increase in coal sales to 53 324 t compared to 27 913 t in Q1 2012, while the average sales price was US$139.84 compared to Q1 2012, which saw the highest sales price achieved at $166.30.“I believe that it is worth noting that we have achieved a number of key milestones over the last 12 months, including sustained production and sales at Stockton and the acquisition of the Pott & Bannon property, which more than trebled our existing reserves. We therefore have a producing asset, significant anthracite resources and a number of highly exciting acquisition targets which we believe will enable us to continue to deliver on our strategy to become a major mid-tier anthracite producer in Pennsylvania,” concludes Best.