Straits Resources considers Indo sell-off

PERTH-based Straits Resources is considering offers for its 47.1% stake of Singapore-listed Straits Asia Resources.
Straits Resources considers Indo sell-off Straits Resources considers Indo sell-off Straits Resources considers Indo sell-off Straits Resources considers Indo sell-off Straits Resources considers Indo sell-off

Straits Resources' Sebuku coal processing facility

Blair Price

Straits Asia Resources produced 2.04 million tonnes of thermal coal from its Sebuku and Jambayan mines in Indonesia during the December quarter.

Straits Resources said it had received a number of unsolicited expressions of interest and was undertaking a strategic review to determine whether such an asset sale would be in the interest of its shareholders.

The latest quarterly report also revealed the total production and sales of Straits’ Indonesian operations reached 8.6Mt for last year.

The production target for this calendar year is in the range of 9-11Mt.

Straits Resources closed up 11.58 on Friday at $A1.06 on the Australian Securities Exchange today.

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