News Archive

28 June 2010

Planning approval received for proposed new Netherton 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 up to 4.0 million tonnes of coal reserves and resources from its proposed Netherton mine has been approved by the local planning authority in East Ayrshire. Following the completion of normal planning formalities, it is anticipated that coal production will commence in the fourth quarter of 2010, which is in line with analysts' expectations. It is expected that the Netherton mine will continue to produce coal for a period of six years.

Tom Allchurch, Chief Executive of ATH Resources, said: "This planning approval ensures not only the long-term continuation of the Group's coal production but also generates further employment in East Ayrshire, where we have been a major employer for twelve years now. Netherton, which will employ 110 people, is an important cornerstone in the future of our business and the local economy and we are extremely pleased to secure this important planning approval."

 

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 £18 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 £77.5 million and generated an operating profit of £8.6 million.

Further information on ATH Resources can be found at www.ath.co.uk

 

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