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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, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- Minerals Council of Australia
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- Central Java Power - Indonesia
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- Chamber of Mines of South Africa
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- Economic Council, Georgia
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- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
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- Electricity Authority, New Zealand
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- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
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- Commonwealth Bank - Australia
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- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
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- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Australian Coal Association
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- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
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- Thiess Contractors Indonesia
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- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
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- Jaiprakash Power Ventures ltd
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- Ministry of Transport, Egypt
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- Planning Commission, India
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- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
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- Wood Mackenzie - Singapore
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- Directorate General of MIneral and Coal - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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