Straits Asia to buy two more Indonesian coal mining concessions

The company said it is conducting due diligence and will pay 25 million US dollars once the due diligence is completed.

A further 114 million dollars will be paid once Indonesian government approvals have been secured, the company told Thomson Financial.

The two concessions are estimated to have coal reserves of 34-50 million tonnes, of which 4 million tonnes can be mined immediately.