Straits Asia Resources Limited is a unique Singapore listed company, being the only company on the SGX whose business relates only to mining thermal coal. The Company owns 2 coal mines in Kalimantan, Indonesia: the Sebuku Mine on the remote Sebuku Island in South-East Kalimantan and Jembayan Mine in East Kalimantan. Sebuku Mine began production in 1997 under a Generation 2 Coal Contract with the Indonesian government and is known for the SebukuTM brand of coal, a high-value bituminous coal that is recognized internationally for its consistent quality, single burn characteristics, high ash fusion temperature and Straits Asia?s excellent delivery record.
Jembayan Mine was purchased by Straits Asia in December 1997 for US$350 million, since which time the mine has doubled its annualised rate of production. Jembayan produces the Prangat and Jembayan brands of sub-bituminous coal.SebukuTM coal is sold mainly to major Japanese power utilities whilst Jembayan?s two brands, are exported to power utilities in other Asian countries.In early 2009, PTT Group from Thailand (the major energy company) acquired control of a 46% shareholding in Straits Asia and becoming, through PTT Asia Pacific Mining Pty Ltd, Straits Asia?s holding company. This was a watershed investment by PTT, its first venture into the coal sector.Developing from the strong foundations of its Indonesian mines and with the solid backing of its shareholder base, Straits Asia aims to grow into a leading thermal coal producer in the Asia Pacific region. With effect from 19 August 2011, the Company has changed its name from "Straits Asia Resources Limited" to "Sakari Resources Limited".
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52 Weeks Range 1.750 - 3.200
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