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Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
 Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal projects, including the high quality Kubah Indah Coking Coal Project, after successfully concluding due diligence.
KRL announced the acquisition of the projects in November 2009, significantly expanding its existing coal portfolio in East Kalimantan, Indonesia.
The completion of due diligence clears the way for drilling to commence at Kubah Indah, where the company has an exploration target ranging from 100-140 million tonnes of coking coal for this project.
In a statement the company said this drilling program will be conducted in parallel with the ongoing ramp-up of production at KRL’s other Indonesian operations (which are subject to contract).
KRL Managing Director Mark O’Keeffe said the completion of due diligence on Kubah Indah and the other projects within the portfolio was another positive step forward for the company as it ramps up production in Indonesia.
“The completion of due diligence was high on our list of priorities and, as expected, the projects were found to be technically and legally sound,” he said.
“Kubah Indah in particular will become a very important project for us and, in combination with the Mamahak Project, will form the backbone of our coking coal production profile in the future."
“We will now move quickly towards the commencement of an initial exploration programme at Kubah Indah, and over the coming months we expect to be able to delineate a significant JORC resource,” added Mr O’Keeffe.
The consideration for these five acquisitions, comprising 300 million Kangaroo shares, will be issued to the project vendors upon receipt of shareholder approval.
KRL has advised that 17.5 million shares have been brought back into the company as a result of this renegotiation.
In June 2009, KRL announced an agreement relating to the acquisition of the high quality thermal coal projects Mitra Barya Karsa (MBK) and Bara Pratama (BP) which have both been subject to necessary due diligence.
The company’s economic interest in both the MBK and BP Projects will, on completion of the acquisition, be increased to 100%.
Both of these projects are considered to be highly prospective, high-quality thermal coal projects which KRL will be aiming to take into production in the medium term.
To date the prioritization of the coking coal production, particularly at the Mamahak Project, has delayed progress at MBK and BP, but KRL is still aiming to conduct the necessary work to bring these two thermal coal projects into production.
KRL also recently secured an initial export sales contract with a large Chinese energy company, Guandong Yudean Farnon Investment Co. Ltd (Yudean Farnon).
The sales contract involves the provision of three trial shipments containing a total of 150,000 tonnes of coal over a two-month period. Upon successful completion of these shipments, KRL expects to extend this agreement to cover additional tonnages of coal.
Pricing for the contract is linked by formula to the Chinese Coal Index and based on indicative levels, shows very healthy margins for the blended coal to be sold.
Source: Proactive Investors
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
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