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Monday, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM


STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.

The transaction will give PTT International – Thailand’s largest energy group - a 28.26 per cent interest in Straits’ Singapore-listed coal subsidiary Straits Asia Resources, which operates the assets, according to a document lodged on the Singapore Stock Exchange website.

Straits has been conducting a strategic review of its 47.1 per cent holding in Straits Asia since receiving a number of unsolicited expressions of interest for the stake.

The transaction will dilute Straits interest in Straits Asia to 18.84 per cent.

Straits Asia operates the Sebuku and Jembayan thermal coal mines in Indonesia, and holds an interest in a coking coal exploration concession in central Kalimantan. To read more click
The Australian



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Recent News

Sunday, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...


Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said. Exp ...


Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012. Amid the econo ...


Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...


Friday, 06 March 09
POWER FIRMS HEAD TO INDONESIA FOR COAL
The Hindu Businessline reported that, The enactment of a new, more liberal, mining legislation in Indonesia is drawing coal-starved Indian power uti ...


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