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