RESOURCESTOCKS

Miner looks to 'bulk up'

THE finalisation of the sale of Straits Resources’ Nifty copper mine in Western Australia and nearby interest in the Maroochydore cooper joint venture to Indian metals house Aditya Birla Group for $158.8 million was nothing short of a masterstroke. In one swoop Straits was able to extinguish about $75 million worth of project and corporate debt and pop an eye-watering $80 million in the bank.