Planning approval received for Duncanziemuir mine
14 June 2010 - 4:00PM
UK Regulatory
TIDMATH
RNS Number : 5133N
ATH Resources plc
14 June 2010
+-------------------------------+-------------------------------+
| Press Release | 14 June 2010 |
+-------------------------------+-------------------------------+
ATH Resources plc
("ATH Resources" or "the Group")
Planning approval received for new Duncanziemuir mine in Ayrshire
ATH Resources plc (AIM:ATH), one of the UK's largest coal producers, is pleased
to announce that its application to mine 0.8 million tonnes of coal reserves
from its Duncanziemuir mine has been approved by the local planning authority in
East Ayrshire. As anticipated in planning processes of this nature, a number of
matters remain to be concluded prior to the commencement of work at the mine
which is scheduled to commence production during 2011 and will continue for four
years.
The Duncanziemuir mine is an extension to the completed Laigh Glenmuir mine
which finished coaling in 2009 and will use the existing infrastructure by
conveying coal through the Grievehill mine to the Group's railhead at New
Cumnock.
Tom Allchurch, Chief Executive of ATH Resources, said: "This planning approval
is part of ATH Resources' longer term coal production and employment plans in
East Ayrshire, where we have been a major employer for 12 years. This mine,
which will directly employ 36 people, is an important contributor to the future
of the ATH business and the local economy and we are very pleased to be able to
continue our operations in this part of East Ayrshire."
-Ends-
For further information:
+------------------------------------+--------------------------+
| ATH Resources plc | |
+------------------------------------+--------------------------+
| Tom Allchurch, Chief Executive | Tel: +44 (0) 1302 760 |
| | 462 |
+------------------------------------+--------------------------+
| tom.allchurch@ath.co.uk | www.ath.co.uk |
+------------------------------------+--------------------------+
+------------------------------------+--------------------------+
| Seymour Pierce Ltd | |
+------------------------------------+--------------------------+
| John Cowie | Tel: +44 (0) 207 107 |
| | 8000 |
+------------------------------------+--------------------------+
| | www.seymourpierce.com |
+------------------------------------+--------------------------+
Media enquiries:
+------------------------------------+--------------------------+
| Abchurch | |
+------------------------------------+--------------------------+
| Sarah Hollins / Mark Dixon | Tel: +44 (0) 20 7398 |
| | 7729 |
+------------------------------------+--------------------------+
| mark.dixon@abchurch-group.com | www.abchurch-group.com |
+------------------------------------+--------------------------+
Notes to Editors
ATH Resources was listed on the AIM market of the London Stock Exchange in June
2004 and operates five surface coal mines in Scotland; Skares Road, Grievehill
and Laigh Glenmuir in East Ayrshire, Glenmuckloch in Dumfries and Galloway and
Muir Dean in Fife. The Group 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 Group now holds coal
supply contracts with four of the UK's main electricity generating companies.
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 Resources 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 53 week period ended 4 October 2009, the Group achieved turnover of
GBP77.5 million and generated an operating profit of GBP8.6 million.
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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