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TIDMXTA TIDMAN26

RNS Number : 9459Y

Xstrata PLC

08 March 2012

 
            NEWS RELEASE 
             Xstrata Coal to Acquire Sukunka Hard Coking Coal Deposit 
             Sydney, 8 March 2012 
             Xstrata Coal has agreed to acquire the Sukunka hard coking coal 
             deposit ("Sukunka") from Talisman Energy Inc for US$500 million 
             in cash, subject to customary conditions. 
             Sukunka is located in the Peace River Coalfield of northern 
             British Columbia, contiguous with First Coal Corporation and 
             Lossan tenements acquired by Xstrata Coal in August and October 
             2011 respectively. 
             Sukunka has an NI 43-101 compliant coal resource of 236 million 
             tonnes in the Measured and Indicated categories. Norwest Corporation 
             has completed a pre-feasibility study for a longwall mine producing 
             hard coking coal. Xstrata Coal's technical studies indicate 
             the potential to realise further value from the resource. 
             Xstrata Coal Chief Executive, Peter Freyberg, said: 
             "Based on our due diligence and technical analysis, Sukunka 
             has the potential to be a high quality metallurgical coal mine. 
             Once developed, Sukunka would meaningfully increase our exposure 
             to hard coking coal, while unlocking synergies with our neighbouring 
             assets in the Peace River coalfield and providing additional 
             regional scale." 
             End 
 
             Neither the content of the company's website nor the content 
             of any other website accessible from hyperlinks on the company's 
             website is incorporated into, or forms part of, this announcement 
             Xstrata contacts: Kathryn Lamond                         Alison Flynn 
              Telephone    +612 9253 6789            Telephone   +44 20 7968 2838 
              Mobile       +61 (0) 417 074 751       Mobile      +44 20 7769 314374 
              Email        klamond@xstratacoal.com   Email       aflynn@xstrata.com 
 
              www.xstratacoal.com 
 
 
 
             Notes to editors 
             About Xstrata plc 
             We are a major producer of a range of vital commodities used 
             in everything from constructing buildings and delivering electricity, 
             to developing jet engines and mobile phones. We are one of the 
             top five global producers of copper, thermal and metallurgical 
             coal, ferrochrome, zinc and nickel and we also produce silver, 
             lead, platinum, gold, cobalt and vanadium. 
             Founded in 2002 and headquartered in Switzerland, we operate 
             in over 20 countries and employ over 70,000 people at more than 
             100 operations and projects around the world. We work in a responsible 
             and sustainable way, with an entrepreneurial spirit and dynamic 
             approach. For more information, visit www.xstrata.com. 
 
             About Xstrata Coal 
             We are the world's largest exporter of high energy thermal coal 
             used to generate electricity and one of the largest producers 
             of coal used to make steel. Headquartered in Sydney, Australia, 
             we have interests in over 30 operating coal mines in Australia, 
             South Africa and Colombia, as well as development projects in 
             Canada. For the fifth consecutive year, Xstrata retains its 
             position as Mining Sector Leader in the annual Dow Jones Sustainability 
             Index review 2011/12. 
             For more information, visit www.xstratacoal.com. 
             Talisman Energy 
             Talisman Energy Inc. is a global, diversified, upstream oil 
             and gas company, headquartered in Canada. Talisman's three main 
             operating areas are North America, the North Sea and Southeast 
             Asia. The company also has a portfolio of international exploration 
             opportunities. Talisman is committed to conducting business 
             safely, in a socially and environmentally responsible manner, 
             and is included in the Dow Jones Sustainability (North America) 
             Index. Talisman is listed on the Toronto and New York stock 
             exchanges under the symbol TLM. For more information, visit 
             http://www.talisman-energy.com. 
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Location of Sukunka (red), First Coal (black and blue) and Lossan (green) licenses & applications

http://www.rns-pdf.londonstockexchange.com/rns/9459Y_-2012-3-8.pdf

This information is provided by RNS

The company news service from the London Stock Exchange

END

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