Kangaroo's Tanur Jaya concession has 297 million tons of coal
Wednesday, July 28 2010 - 01:34 AM WIB
The open cut coal reserves are estimated to total 80Mt, of which l5Mt are classed as "proved" and 65Mt as "probable", the company said in a statement.
The independent JORC Resource and Reserve Statement was produced by PT Runge Indonesia, and issued under the Minarco-MineConsult (MMC) name.
"With a current estimated coal reserve of 80 million tonnes as outlined in the Resource and Reserve Statement initial production is planned to commence during FY2011 targeting a start-up production rate of up to 50,000 tonnes per month Planned production is then targeted to ramp up to 2Mtpa in late 2011 and increase to 4Mtpa during 2012," Kangaroo?s Managing Director, Mark O?Keeffe said.
Kangaroo is currently completing an investment participation that will allow it to ultimately acquire a 49 percent interest (subject to completion of investments terms) in the Tanur Jaya Project, which is expected to become its next operating coal project in Indonesia.
The new resource and reserve statement, in conjunction with a Life of Mine (LOM) Study, Market Report, Coal Price Forecast Report, and Geotechnical Investigation for Feasibility Study on Pit Design will now be utilised in preparation for the start of mining operations at Tanur Jaya.
The project has an average calorific value of 5,255kca1/kg (adb) and 3,930kcal/kg (gar).
The Tanur Jaya Project is an advanced coal concession located a short distance to the north east of Kangaroo's existing Graha Panca Karsa (GPK)project. (denny)