krl on track to become a top coal producer

http://www.im-mining.com/2011/01/05/the-new-year-2011-sees-russia%E2%80%99s-leading-potash-miners-propose-a-merger-atlas-iron-looking-at-a-giralia-takeover-in-the-pilbara-and-krl-on-track-to-become-a-top-coal-producer/


Posted on January 5th, 2011
The New Year 2011 sees Russias leading potash miners propose a merger, Atlas Iron looking at a Giralia takeover in the Pilbara, and KRL on track to become a top coal producer

In the first 2011 issue of International Mining Project News, Russias OJSC Uralkali and OJSC Silvinit have proposed to combine forces to create what would be one of the largest potash companies in the world. The combination would lead to significant synergies which would see the group enjoying one of the lowest cost structures in the potash industry and, with 84% of the companys combined 1H 2010 sales being exported to fast developing economies, will allow the new group to take full advantage of the expected growth in potash demand. Kangaroo Resources (KRL) is also looking forward to a productive 2011. Not only has the company secured a $23.8 million share placement, in part to drive a ramp up of production at its newly acquired Mamahak coking coal project, but it has signed a deal to buy almost all of the world class Pakar thermal coal project for $277 million in Kangaroo shares. If the transaction meets the usual approvals it will see PT Bayan Resources taking a 57% stake in KRL which will, in turn, become one of Indonesias largest coal producers.