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Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coking coal project in East Kalimantan.
Under an agreement with TSX-listed mining company SouthGobi Energy Resources Kangaroo will acquire all of SGER’s mining assets in Indonesia, including their 85% interest in the Mamahak Coking Coal Project for US$1 million in cash and the issue of 50 million KRL shares.
The acquisition increases the total number of coal projects in KRL’s portfolio to eight, representing another major milestone in the Company’s rapid transformation into a significant Indonesian coal producer.
The Mamahak Project has a JORC resource of 10.22Mt of high-quality 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 delivery.
The acquisition is consistent with KRL’s strategy of building a sustainable mid-tier mining house over the medium term, focusing on Indonesian coal and using the considerable experience and expertise of its exceptional in-country partners.
Kangaroo’s strategy entails vending in valuable new coal projects, while at the same time continuing to work towards production in the short term from at least two existing projects. The Company is targeting up to 1-2 million tonnes* production in 2010, ramping up progressively thereafter to ultimately achieve up to +10 million tonnes coal per annum from operations within 2-3 years.
Kangaroo Resources
Kangaroo Resources Limited is a coal-focused Company on the Australian Securities Exchange (ASX:KRL). The Company is debt-free and has coal assets in Indonesia, as well as various assets in Australia, including iron ore, base metals and gold. Kangaroo Resources will be targeting production from its first coal operation in Indonesia in December 2009 and plans to bring other coal mines into production thereafter. The Company ultimately aims to leverage off its strong Indonesian relationships to build a robust mining house, with strong cash flows and an exciting funnel of new projects.
Source: Proactive Investors
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Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
Thursday, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
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- Commonwealth Bank - Australia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Economic Council, Georgia
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- OPG Power Generation Pvt Ltd - India
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- Carbofer General Trading SA - India
- Australian Coal Association
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- Energy Link Ltd, New Zealand
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- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
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- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
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- Price Waterhouse Coopers - Russia
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- Indo Tambangraya Megah - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
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- Bulk Trading Sa - Switzerland
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- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
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- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
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- Wilmar Investment Holdings
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- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
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- GMR Energy Limited - India
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- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
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