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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, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
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