Sherritt divests its coal business

On December 24, 2013 Sherritt International announced it would divest its coal operations to Westmoreland Coal Company, a premier U.S. energy company with strong leadership, a solid foundation of tangible assets and a proven strategy for growth. The sale includes all eight of Sherritt’s coal mines in Saskatchewan and Alberta, including the Obed Mountain Mine, and is expected to close in the first quarter of 2014 (click here for more details about the transaction).

Separately, Sherritt has agreed to divest its royalty interests from the Prairie Coal Business and its 50% interest in the Carbon Development Partnership to a separate purchaser.

Sherritt will continue to stand behind its responsibilities resulting from the Obed Mountain mine release in October.

Post-closing, Sherritt will work with Westmoreland and regulators on the remediation plan.

Updates regarding the Obed Mountain Mine and the current remediation work will continue to be posted on this community information site.