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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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Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Interocean Group of Companies - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
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