“We are very pleased with the timing of this approval from MSHA as we received it earlier than anticipated"
FISHERS, INDIANA (PRWEB) August 23, 2017
American Resources Corporation (OTCQB: AREC), through its wholly owned subsidiary Quest Energy Inc. and McCoy Elkhorn Coal LLC, has received federal approval from MSHA to take extended cuts on its first super section at McCoy Elkhorn’s Mine 15. The approval allows for an increased cut depth from 20 feet to 32 feet within the Glamorgan/Millard coal seam. Production from Mine 15 is belted directly into Quest Energy’s McCoy Elkhorn Coal Bevins Branch processing and load-out facilities, enabling cost-effective logistics, processing and blending capabilities and sold in the HV B metallurgical markets.
“We are very pleased with the timing of this approval from MSHA as we received it earlier than anticipated and enables us to further enhance our efficiencies at our McCoy Elkhorn operations,” stated Mark Jensen, CEO of American Resources Corporation. “Additionally, we’re proud of our strong working relationship with federal and state regulators, and our team prides itself on operating under a culture of safety and efficiency.” “This approval also exemplifies how we strive to be one of the lowest-cost producer in the metallurgical and specialty coal market.”
American Resources Corporation will continue to identify other areas of operational efficiency in its continuing goal to be one of the lowest cost operators in Central Appalachia and throughout all its coal mining, processing, and transportation operations.
About American Resources Corporation
American Resources Corporation is engaged in diversified energy services including mining, processing and logistics, with a primary focus on traditional energy sources such as coal and oil and gas. American Resources Corporation plans to expand its business by continuing to develop its currently leased properties and further expanding its processing and logistics business, and through the pursuit of strategic acquisitions.
Mark LaVerghetta, Director of Corporate Communications
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company’s actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond the control of the Company. The words “believes”, “may”, “will”, “should”, “would”, “could”, “continue”, “seeks”, “anticipates”, “plans”, “expects”, “intends”, “estimates”, or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
Source: American Resources Corporation