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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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- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- The University of Queensland
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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