* To buy stake in eastern Kentucky terminal for $8.3 mln
* Says has option to acquire remaining stake
Dec 22 Royal Coal Corp RDA.V said it plans to
buy an 80 percent stake in a river-based coal loading terminal
in eastern Kentucky for about $8.3 million, to move coal
efficiently from its surface mines in the region to the market.
The purchase includes the equipment used to operate the
river terminal, which has the capacity to load over 100,000
tons per month, the company said in a statement.
Royal Coal, which has three reserves in central-eastern
Kentucky, said it has the option to buy the remaining stake for
a price to be negotiated with the vendor.
The acquisition is expected to close by Jan. 31.
Shares of the Toronto-based firm closed at 17.5 Canadian
cents on Wednesday on the Toronto Venture Exchange.
(Reporting by Gowri Jayakumar in Bangalore; Editing by