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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, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Parliament of New Zealand
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
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