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