StockMarketWire.com - Metallurgical coal miner Bens Creek said it had entered its first offtake agreement for its metallurgical coal with Integrity Coal Sales.

Under the agreement, Bens Creek would supply approximately 22,000 US Short ton of product per month for an initial twelve-month period starting from January 2022 until December 2022.

The agreed sales price would be closely linked to the Metallurgical Coal Assessment Index published by S&P Global Platts on a daily basis.

The published price for the Hi Vol B product, as at 19 October 2021, was $305 per metric tonne with the equivalent price for a ST being $277.

'This agreement covered approximately 50% of the anticipated production volumes of the group's proposed annual production under the existing mine plan,' the company said.

'As we look to move into production during Q4 2021, we will in due course seek to secure additional sales agreements with Integrity or with third-party customers,' it added.








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