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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
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