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Kangaroo Resources reduces Pakar coal landholding in Indonesia

Kangaroo Resources Ltd. relinquished certain areas of three concessions forming part of its Pakar coal property in Indonesia's East Kalimantan province.

The company reduced the total area of the mining concessions from 14,587 hectares to 9,469 hectares to secure a "clear and clean" status from the Indonesian government, as the property overlapped with a third-party concession.

The move is expected to help pave the way toward mining at Pakar.

Kangaroo Resources noted in a Dec. 21 statement that the move will reduce the related reserves and resources. The company commissioned an updated reserves and resources estimate, anticipated early in the second quarter of 2017.