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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
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