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Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
 Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal projects, including the high quality Kubah Indah Coking Coal Project, after successfully concluding due diligence.
KRL announced the acquisition of the projects in November 2009, significantly expanding its existing coal portfolio in East Kalimantan, Indonesia.
The completion of due diligence clears the way for drilling to commence at Kubah Indah, where the company has an exploration target ranging from 100-140 million tonnes of coking coal for this project.
In a statement the company said this drilling program will be conducted in parallel with the ongoing ramp-up of production at KRL’s other Indonesian operations (which are subject to contract).
KRL Managing Director Mark O’Keeffe said the completion of due diligence on Kubah Indah and the other projects within the portfolio was another positive step forward for the company as it ramps up production in Indonesia.
“The completion of due diligence was high on our list of priorities and, as expected, the projects were found to be technically and legally sound,” he said.
“Kubah Indah in particular will become a very important project for us and, in combination with the Mamahak Project, will form the backbone of our coking coal production profile in the future."
“We will now move quickly towards the commencement of an initial exploration programme at Kubah Indah, and over the coming months we expect to be able to delineate a significant JORC resource,” added Mr O’Keeffe.
The consideration for these five acquisitions, comprising 300 million Kangaroo shares, will be issued to the project vendors upon receipt of shareholder approval.
KRL has advised that 17.5 million shares have been brought back into the company as a result of this renegotiation.
In June 2009, KRL announced an agreement relating to the acquisition of the high quality thermal coal projects Mitra Barya Karsa (MBK) and Bara Pratama (BP) which have both been subject to necessary due diligence.
The company’s economic interest in both the MBK and BP Projects will, on completion of the acquisition, be increased to 100%.
Both of these projects are considered to be highly prospective, high-quality thermal coal projects which KRL will be aiming to take into production in the medium term.
To date the prioritization of the coking coal production, particularly at the Mamahak Project, has delayed progress at MBK and BP, but KRL is still aiming to conduct the necessary work to bring these two thermal coal projects into production.
KRL also recently secured an initial export sales contract with a large Chinese energy company, Guandong Yudean Farnon Investment Co. Ltd (Yudean Farnon).
The sales contract 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 expects to extend this agreement to cover additional tonnages of coal.
Pricing for the contract is linked by formula to the Chinese Coal Index and based on indicative levels, shows very healthy margins for the blended coal to be sold.
Source: Proactive Investors
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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
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