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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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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Parliament of New Zealand
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