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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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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
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- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- India Bulls Power Limited - India
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