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Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
 International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in East Kalimantan - just six weeks after acquiring an 85% interest in the project.
The operational team has now completed the removal of overburden and exposed up to 15,000 tonnes of fresh coal for mining. Mining of this material is now underway.
The coal seams lie near-surface resulting in a lower strip ratio and corresponding lower operational costs. All coal will ultimately be transported to the stockpile facility at the port loading terminal for barging down the Mahakam River.
Kangaroo is targeting initial production of up to 30,000 tonnes of coal per month from Mamahak. The commencement of mining at Mamahak represents a great achievement for the Company and is well ahead of schedule.
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"We are very pleased to add the Mamahak Coal Mine to the Company’s portfolio, with significant infrastructure on-site available to immediately begin ramping up to more substantial volumes" - Mr O’Keeffe
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KRL acquired the Mamahak Project as part of a portfolio of Indonesian mining interests purchased from TSX-listed company South Gobi Energy Resources in December 2009. The project includes a JORC compliant resource of 10.22Mt of 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 shipping.
The previous operators estimated up to 30,000 tonnes of coal within the operating Mining Block, however the Company’s evaluation of this SW Block has identified significant additional potential tonnage, with an estimated target of up to 270,000 to 600,000 tonnes.
Kangaroo Managing Director Mark O'Keefe said the company was now very optimistic of defining and increasing the coal inventory in the SW Block and also within the four additional Mining Blocks within the concession by conducting the necessary further detailed works.
"Initial production of up to 30,000 tonnes of coal per month will provide the Company with an immediate net cash income stream moving forward," Mr O'Keefe said.
"The Company’s strategy is to reinvest this cash to further develop Mamahak as well as other projects in its portfolio to achieve its ultimate objective of becoming a +10Mtpa international coal producer."
In addition to the commencement of mining operations, Kangaroo is commencing the transportation of the 30,000 tonne coking coal stockpile to the Balikpapan Coal Terminal.
The Company is currently negotiating the sale of this coal to a third party with a view to establishing a strategic long term relationship for the Company.
Mr O’Keeffe said the speed with which the company had been able to turn around Mamahak into an operational coal mine was testament to its Indonesian partners.
"We are very pleased to add the Mamahak Coal Mine to the Company’s portfolio, with significant infrastructure on-site available to immediately begin ramping up to more substantial volumes," he said.
“This diversifies our product mix and strengthens the cash flows now being generated from our coal operations in Indonesia. This will help to support our overall corporate and strategic objective of becoming a substantial international coal producer."
Source: Proactive Investors
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Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
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- Agrawal Coal Company - India
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- Goldman Sachs - Singapore
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- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
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- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
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- MS Steel International - UAE
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- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- PTC India Limited - India
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- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
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- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Planning Commission, India
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- Ministry of Finance - Indonesia
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- Vedanta Resources Plc - India
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- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
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- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
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- Malabar Cements Ltd - India
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- Singapore Mercantile Exchange
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- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
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- Ministry of Transport, Egypt
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- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
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- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
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- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
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- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
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- Coal and Oil Company - UAE
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