Having decided to focus on coal mining, Nerco, a wholly owned subsidiary of RTZ (NYSE), has sold its oil and gas assets for about US$510 million in cash.
RTZ bought Nerco in June for about US$470 million and the assumption of US$692 million of debt.
RTZ recently sold some of Nerco’s precious metal mining assets, including the Con gold mine in Yellowknife, N.W.T., and is negotiating to sell the remainder.
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