Kangaroo considers selling E. Kalimantan coal project

Australia-listed coal producer Kangaroo Resources Limited (KRL) is considering all options including potential joint ventures and a possible sale for its Graha Panca Karsa (GPK) coal project in East Kalimantan.

?In order to give the sale option more credibility and enhance any potential outcome, KRL has mandated Macquarie Bank Singapore to manage a process by which interested parties are able to review the project and consider any further involvement,? the company said on Monday

GPK located in the regency of West Kutai, has started production. It targeted to produce up to 100,000 tons of thermal coal per month by early 2011, and ultimately up to 3-4 million tons per annum (Mtpa) by 2012.

Kangaroo has eight coal mining projects in East Kalimantan including Kubah Indah coking coal project (100 percent interest), Tanur Jaya Thermal coal project (45 percent interest, subject to the terms of the agreement), Jawana coking coal project (100 percent interest) and Borami coking coal project (100 percent interest). (denny)