Calgary-based Manalta Coal, a private company owned by the Mannix family, recently purchased the Line Creek open pit coal mine from Shell Canada (TSE).
Shell expects to record a pretax loss of $185 million on the sale of the operation, or about $120 million on an after-tax basis. The transaction price was not disclosed.
Line Creek is in southeastern British Columbia and produces about two million tonnes of metallurgical coal and about one million tonnes of thermal coal per year.
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