Kangaroo's MCM produces 27,000 tons in Q2
Friday, July 27 2012 - 02:45 AM WIB
Australia-listed Kangaroo Resources Limited reported its subsidiary Mamahak Coal Mining (MCM) produced some 27,000 tons of coking coal in the second quarter compared to 25,646 tons in previous quarter, with the total coal sales of 24,423 tons.
The overburden production reached 854,185 BCM (bank cubic metres), increased from Q1 level of 438,888 BCM.
The company said that overburden removal carried out by mining services contractor PT Putra Perkasa Abadi.
Under the five year contract, which has an approximate total value of US$270 million, Putra Perkasa will mine up to 4.5 million tons over 5 years, including up to 1 million tons per annum, of coking coal from the Mamahak Project.
The company said that an independent coal quality evaluation report noted that the Mamahak coal product has the capability to enter the premium coking coal market as a blend component
The company added that the regulatory processes required for the transfer of the outstanding equity in Pakar Thermal Coal Project also progressed.
Editing by Adianto P. Simamora