Bathurst to pay $600,000 for Canterbury Coal assets, agrees to 3-year supply contract

Thu, 15 Aug 2013

By Tina Morrison Aug 16 (BusinessDesk) - Bathurst Resources, the Wellington-based miner, will pay as much as $600,000 for the assets of Canterbury Coal near Christchurch to expand its New Zealand business. The mining company has been operating the open cast mine near Coalgate as part of due diligence and during this time has won a three-year contract to supply up to 55,000 tonnes of coal a year to a local dairy processing plant, it said in a statement. The mine will initially produce up to 50,000 tonnes a year and is forecast to increase th...

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