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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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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
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- Energy Link Ltd, New Zealand
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- Indian Oil Corporation Limited
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- Toyota Tsusho Corporation, Japan
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- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
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- International Coal Ventures Pvt Ltd - India
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- The University of Queensland
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- Electricity Authority, New Zealand
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- Singapore Mercantile Exchange
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- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
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- Standard Chartered Bank - UAE
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- Sical Logistics Limited - India
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- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
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- Parliament of New Zealand
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- Kepco SPC Power Corporation, Philippines
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- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Georgia Ports Authority, United States
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- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
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- Pendopo Energi Batubara - Indonesia
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- Wood Mackenzie - Singapore
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- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Siam City Cement - Thailand
- ICICI Bank Limited - India
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- Cement Manufacturers Association - India
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- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
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- Chamber of Mines of South Africa
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- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
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- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
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- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
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- Orica Mining Services - Indonesia
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- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
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