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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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Wednesday, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
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- Baramulti Group, Indonesia
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- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Australian Coal Association
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- Semirara Mining Corp, Philippines
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- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
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- Economic Council, Georgia
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- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
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- Sical Logistics Limited - India
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- Minerals Council of Australia
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- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
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- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
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- European Bulk Services B.V. - Netherlands
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- Thai Mozambique Logistica
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- Romanian Commodities Exchange
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- TeaM Sual Corporation - Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
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- PetroVietnam Power Coal Import and Supply Company
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- Ministry of Transport, Egypt
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- Coalindo Energy - Indonesia
- Planning Commission, India
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- Leighton Contractors Pty Ltd - Australia
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- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
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- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
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- Maheswari Brothers Coal Limited - India
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- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
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- Parliament of New Zealand
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
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- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
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- Malabar Cements Ltd - India
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- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
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- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
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- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
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- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- White Energy Company Limited
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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