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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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Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
Thursday, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
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- Latin American Coal - Colombia
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- Commonwealth Bank - Australia
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- Price Waterhouse Coopers - Russia
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- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
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- Borneo Indobara - Indonesia
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- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
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- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
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- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
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- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
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- White Energy Company Limited
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- Star Paper Mills Limited - India
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- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
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- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
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- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
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- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
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- Australian Coal Association
- The State Trading Corporation of India Ltd
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- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
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- Global Green Power PLC Corporation, Philippines
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- PNOC Exploration Corporation - Philippines
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- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
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- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
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- Power Finance Corporation Ltd., India
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- Kumho Petrochemical, South Korea
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- Planning Commission, India
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- Bulk Trading Sa - Switzerland
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- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
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- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
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- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
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- Georgia Ports Authority, United States
- Mercator Lines Limited - India
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- Parliament of New Zealand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
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