American Resources Corp. announced an update on its operations and outlook regarding the global coronavirus (COVID-19) outbreak. It said it currently does not have any cases with any of its employees.
It is taking all precautionary steps to ensure a safe working environment to protect the health of its employees and others, and to mitigate the spread of the virus. The company has also donated its total available supply of N95 masks to the Veterans Center in Hazard, Kentucky, to help support first responders.
Chairman and CEO Mark Jensen said, “First and foremost, our thoughts and prayers are with everyone during these unique and trying times. Secondly, I would highlight that American Resources has been built to withstand these turbulent markets. Our low holding cost platform focuses on efficiency, safety and flexibility and enables us to react quickly and efficiently to different market conditions. We feel this attribute sets us apart from the traditional legacy competitive landscape within our industry.”
Current maintenance and development activities include enhancing mine plans to significantly reduce operating cost structure; reducing environmental impact through reclamation activities; developing plans to optimize existing organic growth to support the next five-year industry demand growth; and evaluating strategic opportunities to expand footprint as they come available.
As previously announced, American Resources has completed its post-acquisition restructuring efforts of its Perry County Resources (PCR) subsidiary and is now working with regulators to approve its revised mine plans of its retained E4-2 mine.
The company’s McCoy Elkhorn complex is a supplier of High-Vol A/B metallurgical carbon to the global steelmaking market. With current production coming from two mines, Carnegie 1, in the Lower Alma seam, and Mine 15 in the Glamorgan seam, the company said it has a number of additional mines that can be brought online quickly to respond to additional demand. Those mines include Carnegie 2, Carnegie 3 and PointRock.