Reuters quoted Straits Resources said Australia listed mining firm Straits Resources Ltd is in talks with its coal industry partner, Thailand PTT group about a deal involving the miner coal assets.

Straits Resources gave no details on the talks, saying it would make an announcement on the status of negotiations soon.

The company, which called a halt to trade in its shares pending the announcement, sold 60 percent of its coal interests to PTT last year through the creation of a joint venture. The venture assets include exploration interests in Brunei and Madagasca and a 47.1% stake in Singapore listed Indonesian coal miner Straits Asia Resources Ltd.

The fresh negotiations with PTT over the coal joint venture follow a plan by the Australia-listed firm to spin off its metals business into a separately listed company.

That demerger, scheduled for completion by February next year would leave Straits Resources Ltd holding only the 40% stake in its coal venture with PTT plus some cash.

(Sourced from Reuters)