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BRIEF-Buffalo Coal Dundee, Zinoju enter agreement to sell two miners to STA

Published 2015-10-29, 09:05 a/m
© Reuters.  BRIEF-Buffalo Coal Dundee, Zinoju enter agreement to sell two miners to STA
BUF
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Oct 29 (Reuters) - Buffalo Coal Corp BUF.TO :
* Restructuring of buffalo's dundee operations
* In terms of arrangements, Buffalo Coal Dundee and Zinoju have also entered
into an agreement to sell two continuous miners to STA
* Buffalo Coal Dundee to continue to mine co's Aviemore underground mine,as
well as to operate the company's two washing plants and siding
* Selling price will be settled by STA by way of offset against amounts due to
STA in terms of the existing agreement
* STA Coal Mining Company will employ majority of employees being retrenched by
Buffalo Coal Dundee
* Balance of selling price by way of reduction in contract mining rate going
forward, until such time as selling price has been settled

* Source text for Eikon ID:nMKWVmHSla

* Further company coverage BUF.TO

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