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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, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Merrill Lynch Commodities Europe
- Planning Commission, India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
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