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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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Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
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- Central Java Power - Indonesia
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- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
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- PNOC Exploration Corporation - Philippines
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- Minerals Council of Australia
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- TNB Fuel Sdn Bhd - Malaysia
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- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
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- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
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- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
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- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
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- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
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- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Indonesian Coal Mining Association
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- Malabar Cements Ltd - India
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- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Kepco SPC Power Corporation, Philippines
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- Africa Commodities Group - South Africa
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- Global Coal Blending Company Limited - Australia
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- Commonwealth Bank - Australia
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- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
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- The University of Queensland
- London Commodity Brokers - England
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- IHS Mccloskey Coal Group - USA
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- Ministry of Finance - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
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- Wood Mackenzie - Singapore
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- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
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