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Allegiance: JOGMEC pulls out from Kilmain coal JV in Australia

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Allegiance: JOGMEC pulls out from Kilmain coal JV in Australia

AllegianceCoal Ltd. said April 27 that JOGMEC has withdrawn from the coal joint venture inQueensland, Australia, after spending over A$2 million on the coal project bythe end of the quarter.

Under a July 2014 deal, JOGMEC agreed to provide a A$3 million cash injectionto earn up a 40% stake in Kilmain by transferring the funds over a three-yearperiod.