30/11/2011 - 14:03

Kangaroo signs contractor for Mamahak

30/11/2011 - 14:03

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Perth-based coal miner Kangaroo Resources has signed a 5-year, $US270 million mining services contract with contractor PT Putra Perkasa Abadi for its Mamahak coal project in Indonesia.

The scope of works includes project management, mine planning, surveying, supervision, site security, materials, equipment, labour, transportation and site infrastructure works.

Kangaroo Resources managing director Mark O’Keefe said the contract was designed to underpin the ramp up of production at Mamahak to commercial levels, Kangaroo said.

The contract includes minimum targets for coal production of up to 1 million tonnes per year.

“We are pleased to have secured the future growth of the Mamahak project through our partnership with PT Putra Perkasa Abadi,” Mr O’Keefe said in a statement.

“We believe that they will make a significant and positive contribution and be instrumental in achieving our objectives for this project.

“The Mamahak project contains coking quality coal deposits which are consistent with our strategy of providing an even broader spectrum of coal products to the market.”

At close of trade today Kangaroo’s stock had lost 6.2 per cent, to trade at 15 cents.

 

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