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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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Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
Thursday, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
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- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
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- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
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- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
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- MS Steel International - UAE
- New Zealand Coal & Carbon
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- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
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- Economic Council, Georgia
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- Altura Mining Limited, Indonesia
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- London Commodity Brokers - England
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- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
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- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
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- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
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- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
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- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
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- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
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- SMG Consultants - Indonesia
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- Global Business Power Corporation, Philippines
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- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
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- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
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- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
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