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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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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
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- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Deloitte Consulting - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Planning Commission, India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
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