Canadian Mining Journal

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OIL SANDS: Suncor buys out Mocal share of Syncrude



Syncrude relies on traditional truck and shovel mining. (Image: Syncrude)

CALGARY – Suncor Energy has arranged to buy out Mocal Energy’s 5% interest in Syncrude for $925 million. Syncrude mines oil sands near Fort McMurray, Alta.

After this transaction, Suncor’s share of Syncrude will increase to 58.74%. Other partners in the joint venture are Imperial Oil Resources (25%), Sinopec Oil Sands Partnership (9.03%) and Nexen Oil Sands Partnership (7.23%).

Visit www.Syncrude.ca to learn more about oil sands mining.