Industrial Minerals


RCF to buy NYCO


24 April 2007
Fording Coal sale of US wollastonite major to private equity fund group nears closure

Keywords: NYCO, wollastonite, Resource Capital Funds

Following our report in March on the sale of wollastonite leader NYCO Minerals Inc., IM can reveal that the new owner and operator of the company is to be Rolling Rock Minerals Inc., a wholly owned subsidiary of Resource Capital Funds IV LP (RCF).
 
On 9 February 2007, NYCO’s parent Fording Canadian Coal Trust, of Calgary, executed a non-binding letter of intent for the sale of NYCO to an undisclosed buyer (see IM March ’07, p.12).

The purchase price was confirmed to IM...