Straits sees Sebuku coal sales to increase by 15% in 2004

Australian miner Straits Resources Limited said its Indonesian coal mining unit is targeted coal sales of 2.3 million tons in 2004, a 15% increase compared to previous year?s sales of 2 million tons.

Straits has 80 percent stake at PT. Bahari Cakrawala Sebuku, the operator of Sebuku mine on Sebuku island, South Kalimantan.

Straits said earlier coal production from Sebuku mine to be stabilized at 2 million tons per annum for at least 7 more years, after the programme had been able to add 10.5 million tons in marketable coal reserves from 6.5 MT in December 2002. (alex)