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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, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
Thursday, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
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- Commonwealth Bank - Australia
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- New Zealand Coal & Carbon
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- Bayan Resources Tbk. - Indonesia
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- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
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- Indian Oil Corporation Limited
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- The University of Queensland
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- Sinarmas Energy and Mining - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Economic Council, Georgia
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- Australian Commodity Traders Exchange
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- Ministry of Mines - Canada
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- Global Coal Blending Company Limited - Australia
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- Semirara Mining Corp, Philippines
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- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
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- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
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- Global Business Power Corporation, Philippines
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- Attock Cement Pakistan Limited
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- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
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- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
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- Electricity Generating Authority of Thailand
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- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
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- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
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- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
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- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
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