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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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Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- White Energy Company Limited
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
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