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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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Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
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