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Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
 Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale of the first thermal coal products in Indonesia.
The company has delivered its first 4,200 tonne coal to the Cahaya Fajar Kaltim power station in East Kalimantan on schedule, achieving the first operations objective within its extensive portfolio of thermal and coking coal projects on schedule.
It has sold this coal as part of a competitive tender process whereby established to supply greater volumes of coal in months ahead as the ramping of the GPK Project accelerates. Kangaroo will be working to provide a consistent supply of thermal coal into this tender over the term of the contract.
During the morning trade, shares in Kangaroo jumped 1.5c, or 7.1%, to 22.5c.
Indonesian coal production has increased in recent years, with the country currently the world's third largest exporter of steaming coal after Australia and China. According to the 2008 BP Statistical Energy Survey, Indonesia had end 2007 coal reserves of 4328 million tonnes.
Kangaroo chairman Mark O'Keefe said achieving the first coal delivery and sale within the very tight deadline was an exceptional achievement.
"The next step for the company is to review its operational to realise efficiences and greater margin, while at the same time continuing to ramp up production from the GPK Project to achieve our production targets and progress the Mamahak Project into full-scale production," Mr O'Keefe said.
"This marks the achievement of another significant milestone for the company."
The GPK Project is targeted to produce up to 100,000 tonnes of thermal coal per month by early 2011 and ultimately up to 3-4 million tonnes per annum by 2012. The development of site infrastructure is progressing to allow effective increase in production to meet the scheduled operation targets and will continue throughout the first half of 2010.
Mr O'Keefe said the company's budgeted operating margins on GPK coal sales were consistent with the current sale tender and the Company will be working to realise efficiences in all aspects of the operations in order to maintain or increase this margin.
The commencement of coal operations at GPK represents the first key milestone in the company's production strategy, which is based on achieving production from 2-3 projects this year. To read more Proactive Investors
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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
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- Indian Oil Corporation Limited
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- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
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- Parliament of New Zealand
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- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
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- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
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- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
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- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
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- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
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- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
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- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
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- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
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- Planning Commission, India
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