ID :
212122
Tue, 10/11/2011 - 07:36
Auther :
Shortlink :
https://oananews.org//node/212122
The shortlink copeid
STX to up coal output at its Indonesian mine
SEOUL (Yonhap) - STX Corp., a South Korean trading firm, said Tuesday that it plans to boost annual coal production at its Indonesian mine to about 5 million metric tons by 2013 from the current 1.8 million metric tons.
Early this year, STX purchased a stake in the coal mine, located in Kalimantan, for US$30 million.
According to STX, the mine produced 1 million tons of coal during the third quarter of the year. Coal produced from the mine is supplied to power plants in South Korea and China, according to STX.
The company said it expects sales of $200 million from the mine next year.
STX said earlier it will secure more stakes in coal mines in Indonesia, thus securing an annual supply of 5 million tons of coal.
Shares of STX Corp. were trading at 15,150 won on the Seoul bourse as of 9:35 a.m., up 2.71 percent.
Early this year, STX purchased a stake in the coal mine, located in Kalimantan, for US$30 million.
According to STX, the mine produced 1 million tons of coal during the third quarter of the year. Coal produced from the mine is supplied to power plants in South Korea and China, according to STX.
The company said it expects sales of $200 million from the mine next year.
STX said earlier it will secure more stakes in coal mines in Indonesia, thus securing an annual supply of 5 million tons of coal.
Shares of STX Corp. were trading at 15,150 won on the Seoul bourse as of 9:35 a.m., up 2.71 percent.
