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