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Straits Resources to update market on PTT deal

Mon Apr 27, 2009 7:54pm EDT

Stocks

   

SYDNEY, April 28 (Reuters) - Australian-listed miner Straits Resources Ltd (SRL.AX) called a halt to trading in its shares on Tuesday, pending an announcement on its recent deal to sell coal and salt assets to Thailand's PTT International PTT.BK. Straits Resources gave no more details.

Last month, PTT agreed to buy about 60 percent of Straits Resources unit Straits Bulk & Industrial Pty Ltd, which holds a stake in Singapore-listed thermal coal miner Straits Asia Resources Ltd (STRL.SI), as well as coal assets in Brunei and Madagascar in a deal worth up to $335 million. (Reporting by Mark Bendeich)



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