Xstrata To Buy Sukunka Hard Coking Coal Deposit For $500 Million
08 Marzo 2012 - 8:46AM
Dow Jones News
Xstrata PLC (XTA.LN), said Thursday that Xstrata Coal has agreed
to acquire the Sukunka hard coking coal deposit from Talisman
Energy Inc (TLM) for $500 million in cash, subject to customary
conditions.
MAIN FACTS:
-Sukunka is located in the Peace River Coalfield of northern
British Columbia, contiguous with First Coal Corporation and Lossan
tenements acquired by Xstrata Coal in August and October 2011
respectively.
-Sukunka has an NI 43-101 compliant coal resource of 236 million
tons in the Measured and Indicated categories.
-Xstrata Coal's technical studies indicate the potential to
realize further value from the resource.
-Xstrata Shares closed Wednesday at 113 pence, valuing the
company at GBP33.84 billion.
-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275;
razak.baba@dowjones.com
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