Straits cleans up Sebuku

DIVERSIFIED miner Straits Resources will move to 100% ownership at the Sebuku coal project in Indonesia by paying $20 million to buy out minority stakeholders.
Straits cleans up Sebuku Straits cleans up Sebuku Straits cleans up Sebuku Straits cleans up Sebuku Straits cleans up Sebuku

Sebuku has been Straits Resources' quiet achiever

Rebecca Keenan

Straits' chief executive Milan Jerkovic said the outlook for Sebuku for the year was very positive and would ensure a strong financial performance for the company.

In the September quarter of last year the Sebuku mine generated sales revenue of $31 million for Straits, via its then 80% stake. Straits has operated the mine since 1998 and increased production to current levels of 2.6 million tonnes per annum.

The deal is still subject to shareholder approval.

MiningNews.net

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