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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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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
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- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
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- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
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- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
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