Straits? Sebuku coal production up in Q1

Australian mining company Straits Resources Limited (SRL) reported its coal production from the Sebuku mine in South Kalimantan had increased to 545,000 tons in the first quarter of 2003 from 467,000 tons in the same quarter last year.

?Through a continuous improvement program the plant's capacity has been increased by 15 percent to 2.3 million tons per annum with minimal capex,? SRL said in its quarterly report last week.

According to the report, SRL recorded coal sales volume of 529,000 tons in the quarter.

The company also said coal resources and reserves at Sebuku had been increased by 1.9 million tons and by 3.6 million tons respectively since December 2002.

?Exploration and definition drilling has been continuing around the Tanah Putih pit and has continued to add to the resources and reserves for the Sebuku operation,? SRL said.

?This (reserves) gives the mine a remaining life of approximately five years.?

SRL controls an 80 percent stake at PT Bahari Cakrawala Sebuku, which runs the Sebuku coalmine. (robert)