Mobil agreed to sell its Canadian mining units.
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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.
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