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Westmoreland Coal adds coal operations in C$465M deal

  • Westmoreland Coal (WLB) agrees to acquire coal mining operations from Sherritt International (SHERF) for ~C$465M.
  • The operations include seven producing thermal coal mines in Alberta and Saskatchewan, a 50% interest in an activated carbon plant and a char production facility which sells to barbeque briquette producers.
  • Sherritt's annual coal output of ~27M tons doubles WLB's production.
  • Sherritt also is selling its Canadian coal and potash royalty business to a group led by Altius Minerals for C$481M.
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