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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, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
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Showing 5906 to 5910 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
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- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
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