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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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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
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- San Jose City I Power Corp, Philippines
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- Kartika Selabumi Mining - Indonesia
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- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
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- Metalloyd Limited - United Kingdom
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- Petrochimia International Co. Ltd.- Taiwan
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- Indian Oil Corporation Limited
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- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
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- Directorate General of MIneral and Coal - Indonesia
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- Independent Power Producers Association of India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
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- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
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- The State Trading Corporation of India Ltd
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- Tata Chemicals Ltd - India
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- Ministry of Finance - Indonesia
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- Eastern Coal Council - USA
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- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
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- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
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- Rio Tinto Coal - Australia
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- GAC Shipping (India) Pvt Ltd
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- Thiess Contractors Indonesia
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- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
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- Standard Chartered Bank - UAE
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- Attock Cement Pakistan Limited
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- Bank of Tokyo Mitsubishi UFJ Ltd
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