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