TORONTO (miningweekly.com) – A UK court has sanctioned a plan by Vancouver-based Western Canadian Coal Corp (WCC) to buy Cambrian Mining, the firm reported on Friday.

WCC said in May it had agreed to buy Cambrian Mining, which actually owned about 34% of the Canadian firm, for about C$120-million in shares.

The scheme of arrangement is expected to become effective on July 13, WCC said.

At that point all Cambrian's shares, other than those held by WCC and in treasury, will be cancelled and 0,75 new WCC shares will be issued to Cambrian shareholders for each scheme share held at the record time – 18:00 on July 9.

Cambrian has applied for the trading of its shares on Aim to be cancelled from July 14 and an application for the new WCC to be admitted to trading on both the TSX and AIM has been made.

Trading in these shares is expected to begin at the opening of the respective exchanges on July 14.

Cambrian, which mines coal, gold and antimony, has hard-coking and thermal coal operations in West Virginia, as well as assets in Western Canada, Wales and Australia. Western produces metallurgical coal from mines in British Columbia, Canada.

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