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Erdene, Xstrata agree to proceed with Donkin coal project

Posted on May 16, 2008

Erdene Gold Inc. [TSX:ERD] announced today that it and Xstrata [LSE:XTA] have agreed to fund the feasibility study of the Donkin coal project, 75%-owned by Xstrata and 25%-owned by Erdene. Erdene and Xstrata have been looking to reopen the Donkin underground mine and sell its coal to the domestic and export thermal coal markets. The targeted Harbour seam contains an indicated resource of 101 million tonnes and an inferred resource of 115 million tonnes. Listen to RI s recent podcast about the red hot coal market....

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gold , tsx