Straits aims to double Sebuku reserves, increase production
Tuesday, March 21 2006 - 04:29 AM WIB
Australian mining firm Straits Resources Limited is targeting to double coal reserves in Sebuku Island, South Kalimantan from 31 million tones under current exploration programs.
CEO Milan Jerkovic said in an interview with corporatefile.com.au released Tuesday at the Australian Stock Exchange that should that reserves target could be achieved, the company planned to increase production from 3 MTPA currently to 4 MTPA for 10 years and then step up production to 6MTPA for the last three years of mine life.
Jerkovic said that Sebuku aimed to increase production to 4MTPA by mid 2007. He said no substantial investment was needed to increase production to 4MTPA as the port facilities can load at a rate of 4.5-5MTPA and the current processing facility at Sebuku had capacity of 4MTPA.
Straits has 100 percent stake at Sebuku coal mine. (alex)