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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, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
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