Sebuku?s coal reserves to last for at least 7 years: Straits
Friday, November 14 2003 - 05:16 AM WIB
Australian mining firm Straits Resources Limited sees coal production from Sebuku mine in South Kalimantan to be stabilized at 2 million tons per annum for at least 7 more years, after the company?s exploration programme had been able to add 10.5 million tons in marketable coal reserves from 6.5 MT in December 2002.
The company also said in a presentation released Friday that it would continue to undertake more exploration programme to increase reserves.
Meanwhile, the company also forecasted sales of 2 million tons of coal this year with improving margins due to firmer coal prices and aggressive implemented by the company.
Straits has an 80 percent ownership in PT Bahari Cakrawala Sebuku, which operates the opencut truck and shovel coal mining. The remaining 20 percent stake is held by PT Reyka Wahana Digdjaya. (alex)