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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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Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
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Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
...
Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
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- PTC India Limited - India
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- International Coal Ventures Pvt Ltd - India
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- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
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- Indonesian Coal Mining Association
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- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
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- The University of Queensland
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- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- The Treasury - Australian Government
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- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
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- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
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- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
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- India Bulls Power Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
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- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
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- Goldman Sachs - Singapore
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- Ministry of Finance - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
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- Indian Oil Corporation Limited
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- Merrill Lynch Commodities Europe
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- Price Waterhouse Coopers - Russia
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- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
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- Trasteel International SA, Italy
- Energy Development Corp, Philippines
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- Sinarmas Energy and Mining - Indonesia
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- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
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- VISA Power Limited - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
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- Toyota Tsusho Corporation, Japan
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- GMR Energy Limited - India
- New Zealand Coal & Carbon
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- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
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- Global Business Power Corporation, Philippines
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- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
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