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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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Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Electricity Generating Authority of Thailand
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- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
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- Parliament of New Zealand
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- Bulk Trading Sa - Switzerland
- White Energy Company Limited
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
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- Power Finance Corporation Ltd., India
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- Ministry of Transport, Egypt
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- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
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- Bhatia International Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
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- Alfred C Toepfer International GmbH - Germany
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- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
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- Trasteel International SA, Italy
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- Wood Mackenzie - Singapore
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- Bukit Makmur.PT - Indonesia
- The University of Queensland
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- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
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- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
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- Videocon Industries ltd - India
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- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
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- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
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- IEA Clean Coal Centre - UK
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- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
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- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
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- Bahari Cakrawala Sebuku - Indonesia
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- Deloitte Consulting - India
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- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
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- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
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- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
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- Electricity Authority, New Zealand
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- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
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