trending Market Intelligence /marketintelligence/en/news-insights/trending/SCNVVviSH4yK8s0-dfyPuw2 content esgSubNav
In This List

American Resources resumes 2nd underground coal mine development

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Insight Weekly: Soaring food prices; bankruptcies reach new low; insurtech M&A to accelerate

Blog

Essential Energy Insights - November 2021

Blog

European Energy Insights October 2021


American Resources resumes 2nd underground coal mine development

American Resources Corp. resumed the development of its Carnegie 2 underground coal mine in Pike County, Ky., the company said in a March 26 release.

The Carnegie 2 and Carnegie 1 mines, with access to the Alma coal seam, are expected to create a low-cost operation with production of 6,000 to 8,000 tons per month.

Carnegie 2's initial production, likely to begin in June, is expected to produce a revenue of $9 million to $10 million per year at an estimated 40% EBITDA margin at current market prices.

American Resources is currently in advanced talks with a contract mining company which will operate Carnegie 2.