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Allegiance Coal (ASX:AHQ) has recorded three COVID-19 cases at its New Elk Mine, forcing the company to operate with a reduced workforce until next week.
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Allegiance (ASX:AHQ) share price shoots 8% higher after new mine opens
Allegiance (ASX:AHQ) share price shoots 8% higher after new mine opens
The Allegiance Coal Ltd (ASX: AHQ) share price is up 8% after production at one of its mines finally started. Let’s take a look.
Marc is a Master of Journalism and Communications student at UNSW and journalist at The Motley Fool. He has a passion for journalism and news with a keen interest in business, the media, politics, foreign affairs, and how they intersect in everyday life.
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May 24, 11:05am AEST
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Allegiance Coal announced on Tuesday, March 30 that it is set to begin coal production at the New Elk Mine in Las Animas County by the end of this month with plans to make initial shipments in June.
The company said electricity supply and the ventilation fans have been activated and the mine entrance has been opened. Also, Colorado State Mine Safety and Rescue team were allowed to enter, and they determined the conditions are âvery good with minimal rehabilitation needed.â
âFollowing the inspection, mine staff were permitted to enter the mine to cross-cut 10 where water had predictably accumulated. The majority of the water has since been pumped from the mine and the Mine Safety and Rescue Team re-entered the mine to continue their inspection to the mine face,â said Allegiance Coal.