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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, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
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- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
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- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
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- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
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