Straits serves Sebuku trump card

DIVERSIFIED miner Straits Resources has increased its coal resource by almost 50% at its Sebuku mine in Indonesia, with the company looking to increase annual production above three million tonnes.
Straits serves Sebuku trump card Straits serves Sebuku trump card Straits serves Sebuku trump card Straits serves Sebuku trump card Straits serves Sebuku trump card

Coal mining operations at Straits Resources Sebuku coal mine in Indonesia

Ben Sharples

Drilling has increased the Sebuku resource from 18Mt to 24.9Mt, increasing the mine life by three years to around 7-8 years.

The Sebuku coal was the driving force behind Straits’ half-yearly profit, with increased production and high commodity prices underpinning a $A10.4 million windfall - a 73% increase on the corresponding period last year.

Straits delivered group sales revenue in 2004-05 of $A59.5 million, an increase of $23.5 million on the same period last year, with coal sales from the Sebuku coal mine in Indonesia rising 9% to 1.3Mt, up from 1.24Mt in 2003-4.

Shares in Straits gained 2c (0.9%) during early morning trade to $A2.27.

MiningNews.net

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