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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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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
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