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Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coking coal project in East Kalimantan.
Under an agreement with TSX-listed mining company SouthGobi Energy Resources Kangaroo will acquire all of SGER’s mining assets in Indonesia, including their 85% interest in the Mamahak Coking Coal Project for US$1 million in cash and the issue of 50 million KRL shares.
The acquisition increases the total number of coal projects in KRL’s portfolio to eight, representing another major milestone in the Company’s rapid transformation into a significant Indonesian coal producer.
The Mamahak Project has a JORC resource of 10.22Mt of high-quality coking coal, extensive infrastructure capable of supporting up to 1.5Mtpa coal production and a large 30,000 tonne coking coal stockpile ready for immediate delivery.
The acquisition is consistent with KRL’s strategy of building a sustainable mid-tier mining house over the medium term, focusing on Indonesian coal and using the considerable experience and expertise of its exceptional in-country partners.
Kangaroo’s strategy entails vending in valuable new coal projects, while at the same time continuing to work towards production in the short term from at least two existing projects. The Company is targeting up to 1-2 million tonnes* production in 2010, ramping up progressively thereafter to ultimately achieve up to +10 million tonnes coal per annum from operations within 2-3 years.
Kangaroo Resources
Kangaroo Resources Limited is a coal-focused Company on the Australian Securities Exchange (ASX:KRL). The Company is debt-free and has coal assets in Indonesia, as well as various assets in Australia, including iron ore, base metals and gold. Kangaroo Resources will be targeting production from its first coal operation in Indonesia in December 2009 and plans to bring other coal mines into production thereafter. The Company ultimately aims to leverage off its strong Indonesian relationships to build a robust mining house, with strong cash flows and an exciting funnel of new projects.
Source: Proactive Investors
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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- The State Trading Corporation of India Ltd
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- Economic Council, Georgia
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- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Edison Trading Spa - Italy
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- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
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- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
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- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
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- Mercuria Energy - Indonesia
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- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
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- The University of Queensland
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- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
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- Kartika Selabumi Mining - Indonesia
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- IEA Clean Coal Centre - UK
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