Cline Mining Sells Its Lossan Met-coal Deposit To Xstrata Coal

Cline Mining Corp. (TSX:CMK) announced the sale of its Lossan coal deposit to Xstrata (LSE:XTA) for $40 million.

As quoted in the press release:

Ken Bates, the President and CEO of the Company, commented “The sale of the Lossan metallurgical deposit provides Cline Mining with immediately available funds to ensure efficient ramp-up and expansion of its New Elk metallurgical coal mine and the ability to avail itself of other strategic opportunities.”

Click here to read the Cline Mining (TSX:CMK) press release.