COMPANY HISTORY

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Atlantic Carbon Group Plc as of 24th January 2016 is the new name for the company previously known as Atlantic Coal Plc.

Atlantic Coal Plc was formed in 2007 following the reverse takeover of the Stockton Coal Group (SCG) – a group of US companies which included Coal Contractors (1991) Inc. – by Summit Resources, a London AIM listed company seeking investment in the mining and minerals industry. Atlantic Coal Plc delisted from AIM on 21st January 2016.

British mining and property entrepreneur Stephen Best set up SCG in the 1990s in order to make acquisitions in the US anthracite coal industry. In 1999 SCG acquired Stockton, located in Hazleton, Pennsylvania, and operated it through Coal Contractors. For five years Stockton produced run of mine anthracite, until 2007 when a new washing and preparation plant was installed.

In November 2007 Summit acquired SCG, and the company name was changed to Atlantic Coal Plc. Atlantic Coal was re-admitted to AIM with Stephen Best as Chief Executive. At re-admission to AIM, Stockton Mine was estimated to have circa 10 years of mine life.

2008

Adam Wilson appointed Chairman, and Peter Chinneck as non-Executive Director.

2009

New mine plan implemented. Mine life of Stockton estimated to be circa 13 years, in part thanks to the discovery of the undocumented reserves leading from the Mammoth Seam.

2010

A new crusher installed, the coal washing facilities were further improved, and a new Liebherr R9250 19.6-yard bucket hydraulic excavator was purchased. Improvements to the washing plant meant the feed rate doubled.

2011

Work on a railroad diversion at the southern end of the mine began, and Barney Corrigan was appointed as Project Development Director to assist with the company’s strategy of expanding within the region. A Komatsu PC2000 hydraulic excavator was acquired to replace the increasingly problematical DeMag H185 excavator.

2012

The Norfolk Southern railroad re-alignment was completed, opening up approximately 1.0 million tons of potential new anthracite seams. The company entered into an option to lease the fully permitted 410-acre Pott & Bannon anthracite mining property in New Castle Township, just 25 miles from Stockton Mine. The reclamation of Gowen Mine was completed during 2012, bringing to an end a major programme of expenditure, and returning key pieces of plant/equipment to Stockton. 2012 also saw record production rates of 161,183 tons.

2013

By now Atlantic Coal was firmly established in the top five anthracite producers in the Pennsylvanian Anthracite Coal Field Belt. Coal Contractors’ annual audit by J. T. Boyd led to an increase in the clean coal reserve base at Stockton of 29%, extending the mine life at Stockton further from 2020 to 2024. The company entered into a joint venture agreement with China based CIC Brancepeth Coal Limited, opening up the Chinese market.

2014

This year a major equipment order was placed for six Komatsu Model HD785-7 100 ton haul trucks and two CAT D9 dozers. Executive Chairman Adam Wilson relocated to the US to fully focus on funding acquisitions in the region. Stockton achieved record production of 165,052 tons despite extreme weather conditions experienced in the region at the start of the year.

2015

The start of 2015 saw the arrival of $20 million worth of Komatsu plant and equipment arriving at the mine, including a high capacity PC3000 excavator. A new rail loading facility was constructed at the eastern end of the mine in partnership with the Reading, Blue Mountain and Northern Railroad providing the company with significant commercial advantage.