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SRL (STRAITS RESOURCES LIMITED) 2009-11-02:
Straits Resources provided Straits Asia Resources third quarter 2009 results, reporting sales revenue grew by 18.9% to US$515.29m, compared to US$433.47m in 2008. The average selling price in Q309 was US$78.5/t, which was lower than the year-to-date average of US$82.3/t, and was affected by a concentration of lower-priced shipments particularly during September. Cash costs of mining averaged US$39/t, helping the Group to achieve EBITDA of US$76m in Q3 alone, up from US$55m for the corresponding period last year. Total coal production for the quarter was 2.59Mt, compared to 2.09Mt in Q308.