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[November 2000]
Coal & Allied and Esso Jointly Announce Agreement for the Sale and Purchase of the Lemington Coal Mine
Coal & Allied Operations Pty Ltd and Esso Australia Resources Pty Ltd, a subsidiary of Exxon Mobil Corporation, today jointly announced that they have signed a Sale and Purchase Agreement for Coal & Allied to acquire from Esso for US$134 Million in cash the Lemington Mine and related interests, including shares in Newcastle Coal Shippers Pty. Limited and Mount Thorley Coal Loading Limited.
In 1999, the Lemington Mine produced 3.4 million tonnes of thermal and semi-soft coal, all of which was exported through the Port of Newcastle. Hunter Valley Operations is one of Coal & Allied's two mining operations in the Hunter Valley, New South Wales. The Lemington Mine adjoins Hunter Valley Operations.
Macquarie Bank Limited acted as financial advisor to Esso.
ENDS