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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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Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Sical Logistics Limited - India
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- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
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- European Bulk Services B.V. - Netherlands
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- Ministry of Transport, Egypt
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- Bangladesh Power Developement Board
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- Australian Commodity Traders Exchange
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- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
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- Eastern Energy - Thailand
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- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
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- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
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- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
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- Sarangani Energy Corporation, Philippines
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- Ind-Barath Power Infra Limited - India
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- Australian Coal Association
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- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Economic Council, Georgia
- SMC Global Power, Philippines
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- Indonesian Coal Mining Association
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- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
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- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
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- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
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- Standard Chartered Bank - UAE
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- MS Steel International - UAE
- Planning Commission, India
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- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
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- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
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- Meralco Power Generation, Philippines
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