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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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- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
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- Attock Cement Pakistan Limited
- Central Electricity Authority - India
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- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
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- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
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- Indo Tambangraya Megah - Indonesia
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- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
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- Sindya Power Generating Company Private Ltd
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- Australian Commodity Traders Exchange
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- Global Green Power PLC Corporation, Philippines
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- Power Finance Corporation Ltd., India
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- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
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- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- VISA Power Limited - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
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- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
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- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
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