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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, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
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