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-Cliffs Australia Coal Pty Ltd signs contract with QCoal Sonoma Pty Ltd.

International Resource News-July 11, 2012--Cliffs Australia Coal Pty Ltd signs contract with QCoal Sonoma Pty Ltd(C)1994-2012 ENPublishing -

International Resource News - 11 July 2012

Cliffs Australia Coal Pty Ltd, a wholly owned subsidiary of Cliffs Natural Resources Inc (NYSE: CLF) (Paris: CLF), has signed a definitive share and asset sale agreement with QCoal Sonoma Pty Ltd.

The contract has been signed to sell Cliffs Australia Coal Pty Ltd's 45 percent economic interest in the Sonoma joint venture coal mine, located in Queensland, Australia, to QCoal Sonoma Pty Ltd. The assets to be sold include Cliffs' interests in the Sonoma mine and its ownership of the affiliated wash plant.

Cliffs Australia Coal Pty Ltd aims to generate around AUD141m in cash proceeds from the deal.

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Publication:International Resource News (IRN)
Date:Jul 11, 2012
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