India's Largest Database on New Projects
Straits Asia buys coal project
August 19, 2008: Straits Asia Resources Limited, a supplier of coal to Japan, Taiwan and South Korea, has bought stakes in two coal projects from its major shareholder for $100.3 million. Straits Asia has bought stakes in projects in Madagascar and Brunei.
The board of Straits Resources is of the opinion that the sale of its coal interests will recapitalise Straits Resources and allow management to focus on the creation of a diversified metals and mining business. The company aims to focus on building earnings from its existing base of precious metal operations at Tritton, Whim Creek, Hillgrove and Mt Muro and pursue organic and new growth opportunities.
Source: Steelguru.com