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Bens Creek CEO Discusses High Wall Progress, Avani's Investment, and Met Coal Price Outlook #BEN
High wall issue: There was a delay in setting up the second high wall miner due to a geological anomaly. The drill got stuck but has been fixed, and both high wall miners are expected to be in full production by August. Avani's investment: Avani, a shareholder, bought 29% of the company and provided a loan of $6.5 million for working capital. Avani is confident in the met coal market and has supported Bens Creek through the high wall issue and the drop in met coal prices. Met coal prices: Met coal prices dropped from $300 to $180 per metric ton but have started to recover, reaching $205-$206. Wilson attributes the price movement to geopolitical factors and the long-term demand for met coal linked to steel production. By Mark Fairbairn
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