on the reuters wires, page-3

Is a director selling ????


KRAKATAU STEEL EYEING STAKE IN AUSTRALIA'S GRANGE RESOURCES
Tuesday, June 10, 2008; Posted: 04:36 AM
JAKARTA, Jun 10, 2008 (AsiaPulse via COMTEX) | -
State-owned steel maker PT Krakatau Steel (KS) is studying possible acquisition of up to 30% of iron ore producer Grange Resources Ltd (ASX:GRR) to ensure supply of the basic material for its factory.
KS has set aside US$40 million to finance the acquisition of the stake in the Australian company, a KS commissioner Alexander Rusli said.

The board of commissioners has given its approval, but the management is still conducting due diligence studies of Grange Resources, Alexander said as quoted by the newspaper Bisnis Indonesia.

Grange is developing two iron ore mines in Australia and a pelletizing plant in Kemaman, Malaysia expected to come on stream in 2011 with an annual capacity of 6.8 million tons.

KS Marketing Director Irvan Kamal Hakim said the company hopes to secure supply of basic material and have business units from upstream to downstream sectors.