ArticleSmart MiningGoing once: Blair Athol thermal coal mine sold…for $1
By Dale BentonMay 17, 20202 minsTerracom Limited, through its subsidiary Orion Mining, has proposed a deal to purchase the Blair Athol thermal coal mine from Rio Tinto, for just $1. T...Terracom Limited, through its subsidiary Orion Mining, has proposed a deal to purchase the Blair Athol thermal coal mine from Rio Tinto, for just $1.
The mine, which closed in 2012, will restart operations later this year and bring about 100 new jobs.
Terracom, the Australia based mining company, is anticipating up to two million tonnes of coal annually produced at the mine.
The deal will also include $80 million from the previous owner to meet the mine's rehabilitation liability as determined by the state government.
It also includes the mining lease, licences, lands contracts and all mining plant and equipment, including a dragline.
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How does one manage to do this I mean Ter made hundreds of millions im predicting if not billion bucks from this $1 their share price went from a few cents to like $1.14 after this deal. just wondering how I could buy a mine for a $1 that makes me richer then super man? TER lucky devils!
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