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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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Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Singapore Mercantile Exchange
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- TNB Fuel Sdn Bhd - Malaysia
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- Directorate Of Revenue Intelligence - India
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- Indian Oil Corporation Limited
- Romanian Commodities Exchange
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- Merrill Lynch Commodities Europe
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- Ministry of Finance - Indonesia
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- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
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- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
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- Formosa Plastics Group - Taiwan
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
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- Semirara Mining Corp, Philippines
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- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
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- Economic Council, Georgia
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- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
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- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
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- Australian Coal Association
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- Bukit Makmur.PT - Indonesia
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- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
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- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
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- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
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- Simpson Spence & Young - Indonesia
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- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
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- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
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- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
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