BRITISH COLUMBIA – NEMI Northern Energy and Mining Inc. of Vancouver has sold its 12.18% interest in the Peace River Coal LP to Anglo American of Britain for a cash price of $73 million. Anglo, the operator, now holds a 86.18% interest in the partnership. The balance is held by Hillsborough Resources of Vancouver and Vitol Anker International. Anglo has expressed interest in selling Peace River Coal once it consolidates its ownership.
Peace River Coal operates the Trend mine near Tumbler Ridge in the northeast part of British Columbia. The Belcourt, Saxon, Roman Mountain and Horizon projects are also potential producers.
The Peace River Coal website is at www.PeaceRiverCoal.com.