Glencore exits Donkin project

GLENCORE has completed the sale of its 75% stake of the Donkin underground coal project in Canada’s Nova Scotia province to US coal investor the Cline Group, with the amount paid not revealed.
Glencore exits Donkin project Glencore exits Donkin project Glencore exits Donkin project Glencore exits Donkin project Glencore exits Donkin project

Xstrata's Donkin Coal Project.

Blair Price

“We are not disclosing the sale price,” a Glencore spokesman told ICN.

The sale to Cline subsidiary Kameron Collieries comes after Cline was revealed as a potential buyer in August.

Donkin’s 25% owner Morien Resources Corporation said it was looking forward to seeing the project advance under Kameron.

Donkin is expected to produce about 3.6 million tonnes annually, probably from longwall and continuous miner operations, for a projected 30-year lifespan.

The project received approval from Nova Scotia Environment Minister Sterling Belliveau in July.

Cline’s main underground coal exposure is through its stake of New York-listed longwall miner Foresight Energy.

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