Planning approval received at Netherton mine
June 28 2010 - 1:00AM
UK Regulatory
TIDMATH
RNS Number : 2961O
ATH Resources plc
28 June 2010
+-------------------------------+-------------------------------+
| Press Release | 28 June 2010 |
+-------------------------------+-------------------------------+
ATH Resources plc
("ATH Resources" or the "Group")
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."
- 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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