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Cline Mining Sells Its Lossan Met-coal Deposit To Xstrata Coal
Oct. 07, 2011 09:18AM PST
Industrial MetalsCline Mining Corp. (TSX:CMK) announced the sale of its Lossan coal deposit to Xstrata (LSE:XTA) for $40 million.
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.
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