Under the terms of the agreement, both companies are working exclusively with each other toward the negotiation of a definitive agreement to give effect to Walter‘s proposal for a potential business combination.
Western Coal is a producer of high quality metallurgical coal from three mines in northeast British Columbia, metallurgical coal and compliant thermal coal from four mines located in West Virginia, and anthracite and metallurgical coal in South Wales, UK.
Other interests owned by the company include a 24% interest in Mandalay Resources Corp, a 40% interest in Xtract Energy and a 20% interest in NEMI Northern Energy & Mining.
