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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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Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Economic Council, Georgia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
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