Mobil agreed to sell its Canadian mining units.
The nation’s second-largest oil company reported that it will sell its interest in Falconbridge Ltd. and McIntyre Mines Ltd. to Dome Mines Ltd., a Canadian concern, for $116 million. The sale fits with Mobil’s previously announced plan to sell the non-oil and non-gas units of Superior Oil to help pay down the debt that Mobil took on when it acquired Superior last October for $5.7 billion. Falconbridge mines nickel and ferronickel, and McIntyre mines and markets coal. The sale will take place today.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
