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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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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Planning Commission, India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- White Energy Company Limited
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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