Xstrata To Buy Sukunka Hard Coking Coal Deposit For $500 Million

Date : 03/08/2012 @ 2:46AM
Source : Dow Jones News
Stock : (TLM)
Quote : 7.99  0.0 (0.00%) @ 2:05AM

Xstrata To Buy Sukunka Hard Coking Coal Deposit For $500 Million

Xstrata (LSE:XTA)
Historical Stock Chart

5 Years : From Oct 2012 to Oct 2017

Click Here for more Xstrata Charts.

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



Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.