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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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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Wilmar Investment Holdings
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- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
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- Global Business Power Corporation, Philippines
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- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
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- Energy Link Ltd, New Zealand
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- SMC Global Power, Philippines
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- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
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- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Economic Council, Georgia
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- AsiaOL BioFuels Corp., Philippines
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- White Energy Company Limited
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- Renaissance Capital - South Africa
- Xindia Steels Limited - India
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- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
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- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
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- Goldman Sachs - Singapore
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- Ministry of Transport, Egypt
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- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- London Commodity Brokers - England
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