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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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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
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- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
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- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
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- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
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- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Parliament of New Zealand
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- Sojitz Corporation - Japan
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- Petrochimia International Co. Ltd.- Taiwan
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- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- White Energy Company Limited
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- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
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- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
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- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
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- MS Steel International - UAE
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- Georgia Ports Authority, United States
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- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
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- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
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- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
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- Baramulti Group, Indonesia
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- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
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- Eastern Coal Council - USA
- Bhatia International Limited - India
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- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
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- Planning Commission, India
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- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
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- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
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- Ministry of Mines - Canada
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