Straits? Sebuku produces 706,000 tons coal in Q3
Friday, October 22 2004 - 03:24 AM WIB
Australian mining company Straits Resources Limited said Friday its Sebuku coal mine in South Kalimantan had produced 706,000 tons of coal in the third quarter of 2004, slightly up from the previous quarter of 693,000 tons.
Straits said in a report to the Australian Stock Exchange that the third quarter sales increased by 17 percent to 774,000 tons.
?Low rainfall and strong ROM (run of mine), pit and port coal inventory contributed to the strong performance,? Straits said.
Straits added it anticipated a strong December quarter and forecast total sales for calendar year 2004 of 2.5 million tons, with the vast majority of these sales now placed in long term contracts.
Straits has an 80 percent ownership in PT Bahari Cakrawala Sebuku, which operates the coal mine by an opencut truck and shovel coal mining method. The remaining 20 percent stake is held by PT Reyka Wahana Digdjaya. (robert)