Located in the Hunter Valley, the Narama mine is a 50:50 joint venture between Ravensworth Operations, a wholly owned subsidiary of Xstrata Coal, and Iluka Resources.
Xstrata Coal chief executive Peter Coates said the purchase of Iluka’s 50% interest in the Narama operation was another step forward in consolidating Xstrata’s Hunter Valley interests.
“Xstrata Coal will remain the operator of the mine and will ensure that Narama continues to meet the high productivity, health, safety, environmental and community standards expected of our operations,” he said.
“The transaction will not affect any day-to-day operations or our workforce.”
Subject to any final completion adjustments, Xstrata Coal will also take over all marketing, workforce and environmental obligations.
The Narama mine is located approximately 25km northwest of Singleton, and produces approximately 2.5 million tonnes of saleable thermal coal per annum.
