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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, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Planning Commission, India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- The University of Queensland
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
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