American Resources Corp., through its subsidiary, American Carbon Corp., a metallurgical coal producer, announced that it has expanded production at its Carnegie No. 2 mine in Pike County, Kentucky, by adding a second operating section. It is expected that the production from this section will initially ramp up to approximately 9,000 to 12,000 additional tons per month.
“Adding a second operating section at this already producing mine is one of the highest margin growth opportunities we can execute upon as a company, given no additional fixed costs and minimal additional variable costs are needed to achieve the incremental growth of production,” said Mark Jensen, CEO of American Resources.
This new expansion at Carnegie No. 2 is using almost entirely owned equipment that the company has been able to acquire over the years. American Carbon still has more than three additional full operating sections of equipment that it intends to use for Carnegie No. 1 expansion, the upcoming Mine No. 15A expansion, as well as its Wyoming County Coal LLC complex that it is currently developing.
