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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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Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
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- Ceylon Electricity Board - Sri Lanka
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- Eastern Coal Council - USA
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- Timah Investasi Mineral - Indoneisa
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- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
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- Electricity Authority, New Zealand
- Siam City Cement - Thailand
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- Billiton Holdings Pty Ltd - Australia
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- Central Java Power - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
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- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
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- Petrochimia International Co. Ltd.- Taiwan
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- Orica Mining Services - Indonesia
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- Intertek Mineral Services - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
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- Straits Asia Resources Limited - Singapore
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- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
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- Sindya Power Generating Company Private Ltd
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- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
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- Minerals Council of Australia
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- Economic Council, Georgia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Parliament of New Zealand
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- Energy Development Corp, Philippines
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- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
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- Wilmar Investment Holdings
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- Planning Commission, India
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- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
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- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
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