CLIFFS Natural Resources has finalized the sale of its 45% stake in the Sonoma coal mine in Queensland, Australia to its joint venture partners QCoal Sonoma and JS Sonoma.
It also sold its interests in the affiliated wash plant.
Cliffs sold 90% of its interest to QCoal and the remainder to JSS.
It received about $A141 million ($US146 million) in cash.
Existing mine manager Sonoma Mine Management will continue to be responsible for overseeing the operation.
Sonoma’s 2011 production and sales volumes totaled 3.5 million tonnes and 3.1Mt respectively.
The product mix was about two-thirds thermal coal and one-third metallurgical coal.
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