BRITISH COLUMBIA – Toronto-based Cline Mining Corp. is selling...

BRITISH COLUMBIA – Toronto-based Cline Mining Corp. is selling its 100% interest in the Lossan metallurgical coal deposit in the Peace River coal field. Xstrata Coal of Sydney, Australia, has agreed to pay $40 million for the deposit.

The Lossan deposit has a 43-101-compliant resource of 186 million tonnes in the measured and indicated categories and 54 million tonnes in the indicated category.

Xstrata already holds a group of licences surrounding the Lossan deposit. They were part of the company’s acquisition of First Coal Corp. in August 2011.