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Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
 Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal projects located in East Kalimantan, Indonesia.
The agreement, which has been signed with a large Chinese energy company, Guandong Yudean Farnon Investment Co. Ltd (Yudean Farnon), 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 intends to extend this agreement to cover additional tonnages of coal.
The company said the price negotiated for the coal is very competitive and is based on a formula reflecting fluctuation of the Chinese Coal Index.
This represents significantly better value than pricing taken from the local Indonesian market and will provide KRL with a valuable income stream as it continues to ramp-up production from its Indonesian coal portfolio.
Importantly, the agreement is non-exclusive, with KRL able to consider other off-take partners. With this in mind, the company is continuing in its discussions with other potential partners to further promote the company’s long-term strategic objectives.
KRL Managing Director Mark O’Keeffe said the signing of the export sales contract was a milestone event for the company which would provide valuable revenue as well as an entry to the Chinese export market.
“This initial sales contract with Yudean Farnon provides a strong foundation from which we can continue to ramp up the mining and export of coal from our operations in Kalimantan in Indonesia."
“We are also very pleased to be associated with an organization of the size and prestige of Yudean Farnon, which gives us an important foothold in the dominant Chinese market."
“We are confident that this deal will be very successful and we look forward to a long and mutually beneficial relationship with Yudean Farnon,” he added.
Yudean Farnon Managing Director Mr Chen stated “Kangaroo Resources Ltd represents a dynamic young company that has significant coal assets in Indonesia."
"Yudean Farnon is delighted to start a relationship with KRL and it hopes that the partnership will continue to grow as KRL builds its production ramp up,” Chen said.
KRL has focussed over the past Quarter on taking the Mamahak Coal Project into production in anticipation of delivering into an export coal sales agreement.
To date, the company has added over 20,000 tonnes of fresh coking coal to the run-of-mine (ROM) stockpile at Mamahak, in addition to the ~30,000 tonnes of coal inherited in the acquisition of this project.
An additional 15,000-20,000 tonnes of coal has been exposed at Mamahak and is ready to be mined and added to the stockpile.
This coal represents the bulk of the Mamahak coal product that will be required for the initial sales contract to Yudean and KRL is currently in the process of transporting the coal from stockpile down the Mamahak River to the Balikpapan Coal Terminal for export.
Source: Proactive Investors
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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
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