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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Petron Corporation, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
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