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Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
 Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kalimantan, Indonesia, comprising 59Mt of Measured Resources, 107Mt of Indicated Resources and 131Mt of Inferred Resources.
The open cut Coal Reserves are estimated to total 80Mt, of which 15Mt are classed as Proved and 65Mt as Probable. Mining operations are targeted to commence at Tanur Jaya during the 2011 financial year.
The independent JORC Resource and Reserve Statement – which was produced by PT Runge Indonesia, and issued under the Minarco-MineConsult (MMC) name. MMC is an associated entity.
The Statement was based on drilling programs undertaken at Tanur Jaya in 2009 and represents an "excellent" result for Kangaroo and its joint venture partner, demonstrating the robust nature of the Project.
Mark O’Keeffe, managing director, said the completion of the resources and reserve statement for the Tanur Jaya Project represented another very positive milestone for the company as it continues to ramp up coal production in Indonesia.
“The completion of the coal resource and reserve statement was high on our list of priorities and, was better than expected - achieving nearly three times the initial targeted resource."
"The mining reserve of 80 million tonne shows the Project is robust and we are excited about moving it toward production,” O’Keefe said.
“We will now move quickly towards finalising a decision to mine in consultation with our joint venture partners and we expect to confirm this production plan over the coming months,” he added.
Kangaroo is currently completing an investment participation that will allow it to ultimately acquire a 49% interest (subject to completion of investments terms) in the Tanur Jaya Project, which is expected to become its next operating coal project in Indonesia.
The new resource and reserve statement, in conjunction with a Life of Mine (LOM) Study, Market Report, Coal Price Forecast Report, and Geotechnical Investigation for Feasibility Study on Pit Design will now be utilised in preparation for the start of mining operations at Tanur Jaya.
The Coal Resources average coal quality is TM 39.1% (ar), IM 18.6% (adb), CV 5,255kcal/kg (adb) and 3,930kcal/kg (gar), ash 5.1% (adb), sulphur 0.13% (adb) and RD 1.36 (adb).
Coal Reserves average coal quality is TM 39.2% (ar), CV 3,834kcal/kg (gar), ash 5.0% (ar), sulphur 0.10% (ar) and RD 1.26 (ar).
The Tanur Jaya Project is an advanced coal concession located a short distance to the north east of Kangaroo’s existing GPK Project.
The company is targeting a start-up production rate of up to 50,000 tonnes per month with planned production then targeted to ramp up to 2Mtpa in late 2011 and increase to 4Mtpa during 2012.
The annual production schedule is commencing at 2Mtpa in FY 2011 and ramping up to 4Mtpa with five-yearly increments to the end of the known mine life.
The conceptual life-of-mine study completed for Tanur Jaya was based on its development as a multi-seam, low-dip open cut coal mine.
Source: Proactive Investors
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Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- Eastern Coal Council - USA
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- Toyota Tsusho Corporation, Japan
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- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
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- Price Waterhouse Coopers - Russia
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- Power Finance Corporation Ltd., India
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- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
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- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
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- Global Business Power Corporation, Philippines
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- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
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- Indo Tambangraya Megah - Indonesia
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- Binh Thuan Hamico - Vietnam
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- SN Aboitiz Power Inc, Philippines
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