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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
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- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
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- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
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- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
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- Karaikal Port Pvt Ltd - India
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- Petron Corporation, Philippines
- GMR Energy Limited - India
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- Parliament of New Zealand
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- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Ministry of Finance - Indonesia
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- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
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- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
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- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Planning Commission, India
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- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
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- Karbindo Abesyapradhi - Indoneisa
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- Global Coal Blending Company Limited - Australia
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- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
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- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- The University of Queensland
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- The Treasury - Australian Government
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- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
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- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
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- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
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- Minerals Council of Australia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
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- MS Steel International - UAE
- ICICI Bank Limited - India
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- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
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- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
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