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Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
 Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kalimantan, Indonesia, comprising 59Mt of Measured Resources, 107Mt of Indicated Resources and 131Mt of Inferred Resources.
The open cut Coal Reserves are estimated to total 80Mt, of which 15Mt are classed as Proved and 65Mt as Probable. Mining operations are targeted to commence at Tanur Jaya during the 2011 financial year.
The independent JORC Resource and Reserve Statement – which was produced by PT Runge Indonesia, and issued under the Minarco-MineConsult (MMC) name. MMC is an associated entity.
The Statement was based on drilling programs undertaken at Tanur Jaya in 2009 and represents an "excellent" result for Kangaroo and its joint venture partner, demonstrating the robust nature of the Project.
Mark O’Keeffe, managing director, said the completion of the resources and reserve statement for the Tanur Jaya Project represented another very positive milestone for the company as it continues to ramp up coal production in Indonesia.
“The completion of the coal resource and reserve statement was high on our list of priorities and, was better than expected - achieving nearly three times the initial targeted resource."
"The mining reserve of 80 million tonne shows the Project is robust and we are excited about moving it toward production,” O’Keefe said.
“We will now move quickly towards finalising a decision to mine in consultation with our joint venture partners and we expect to confirm this production plan over the coming months,” he added.
Kangaroo is currently completing an investment participation that will allow it to ultimately acquire a 49% interest (subject to completion of investments terms) in the Tanur Jaya Project, which is expected to become its next operating coal project in Indonesia.
The new resource and reserve statement, in conjunction with a Life of Mine (LOM) Study, Market Report, Coal Price Forecast Report, and Geotechnical Investigation for Feasibility Study on Pit Design will now be utilised in preparation for the start of mining operations at Tanur Jaya.
The Coal Resources average coal quality is TM 39.1% (ar), IM 18.6% (adb), CV 5,255kcal/kg (adb) and 3,930kcal/kg (gar), ash 5.1% (adb), sulphur 0.13% (adb) and RD 1.36 (adb).
Coal Reserves average coal quality is TM 39.2% (ar), CV 3,834kcal/kg (gar), ash 5.0% (ar), sulphur 0.10% (ar) and RD 1.26 (ar).
The Tanur Jaya Project is an advanced coal concession located a short distance to the north east of Kangaroo’s existing GPK Project.
The company is targeting a start-up production rate of up to 50,000 tonnes per month with planned production then targeted to ramp up to 2Mtpa in late 2011 and increase to 4Mtpa during 2012.
The annual production schedule is commencing at 2Mtpa in FY 2011 and ramping up to 4Mtpa with five-yearly increments to the end of the known mine life.
The conceptual life-of-mine study completed for Tanur Jaya was based on its development as a multi-seam, low-dip open cut coal mine.
Source: Proactive Investors
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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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