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