Xstrata Halves Donkin Coal Project's Estimated Production Rate
11 Fevereiro 2010 - 10:44AM
Dow Jones News
Xstrata PLC (XTA.LN) late Wednesday said it will proceed with
its Donkin coal project in eastern Canada, albeit at a
lower-than-forecasted production rate.
An internal review revised the expected output down to 2.75
million metric tons of coking coal each year at full production,
half the amount previously forecasted, Xstrata said in a
statement.
Xstrata has a 75% stake in the Donkin joint venture, with the
rest held by Erdene Resource Development Corp. (ERD.T).
Xstrata hasn't decided when to begin construction on the mine,
as the project still needs internal approvals and Xstrata is
seeking more partners before proceeding, said spokeswoman Claire
Divver in London Thursday.
Xstrata said the review was necessitated by Nova Scotia Power's
announcement late last year that it didn't plan to buy coal from
Donkin, which is located in the Canadian province of Nova
Scotia.
-By Matthew Walls, Dow Jones Newswires; +44 (0)20 7842 9412;
matthew.walls@dowjones.com
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