Chevron to Sell Mineral Assets: The San...
From Times Staff and Wire Reports
Chevron to Sell Mineral Assets: The San Francisco-based oil company said it would take a $30-million charge against second-quarter earnings to sell a number of mineral assets and restructure its Chevron Resources Co. subsidiary. In a “fundamental shift” in strategy, Chevron said it would sell all but three major non-coal minerals projects--a platinum and palladium mine in Montana, a copper and silver property in Chile, and zinc and lead deposits in Ireland. Chevron Resources will oversee the sale of other minerals assets, which are expected to fetch more than $70 million before taxes and result in a net loss.
