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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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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- VISA Power Limited - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
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