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Seoul's state firm buys into S. African mine

12:00 AM @ Monday - 01 January, 1900
SEOUL, Nov. 29 (Yonhap) -- South Korea's state-run resources company said Monday it has signed a deal with Australia-based coal miner Continental Coal Ltd. to purchase a major stake in the latter's coal mine in South Africa for US$13.8 million.

The deal gives Korea Resources Corp. a 37 percent stake in South Africa's Vlakplaatz mine, expected to begin producing up to 3 million tons of coal from 2013, the Korean company said in a press release.
Source:yonhapnews
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