Kangaroo records a 50% increase in production
Monday, September 3 2012 - 04:12 AM WIB
Australia-listed Kangaroo Resources Limited reported that its 99%-owned Mamahak Coking Coal Mine in East Kalimantan has delivered a record monthly production performance with 31,245 metric tons of coal produced during August - a 50 per cent increase over the July production figure (19,891 metric tons).
The monthly production rate represents a significant milestone for Kangaroo's operating subsidiary, PT Mamahak Coal Mining as operations at Mamahak continues to ramp up to the targeted commercial production rate of up to 1 million metric tons of coal per annum.
Total coal production from Mamahak for the entire June 2012 Quarter was 27,008 tons At the end of August, 107,641 tons of coal had been stockpiled at Mamahak, which will be barged to port once sustained river levels rise with the expected commencement of the wet season in September.
Kangaroo's Managing Director, Mark O'Keeffe, said: "The August production figure represents a particularly noteworthy achievement at Mamahak, as production for the month was impacted by the Lebaran holidays celebrating the end of the holy month of Ramadan.
"We're therefore expecting further production growth in the remainder of 2012. In addition, with the start of the wet season now imminent, we are very much looking forward to increasing our barge movements to port and clearing our stockpiles."
Editing by Adianto P. Simamora