Straits reports Q1 coal production, sales jump from Sebuku

Australian miner Straits Resources Limited reported on Thursday that first quarter coal production from its Sebuku mine in south Kalimantan soared by 36 percent to 850,000 tones this quarter, compared to 626,000 tones produced in last year?s corresponding period.

Coal sales for the quarter reached 880,000 tones versus 642,000 tones a year ago.

?Production for the first quarter is historically adversely impacted by the wet season. Despite the seasonal impact, an extremely strong operational result was achieved reflecting an annualized rate of 3.4 million tones,? said the company in a quarterly report. The company said it was on track to produce 3.5 million tones of coal this year.

The company also said that a new resources has been estimated for Sebuku using recent drilling confirmation. The JORC compliant resource now stands at 52.6 million tones, said the company.

Straits has 100 percent stake in PT. Bahari Cakrawala Sebuku which runs the Sebuku mine. (alex)