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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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Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Australian Coal Association
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- White Energy Company Limited
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- The University of Queensland
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
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