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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- The University of Queensland
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Planning Commission, India
- Indian Energy Exchange, India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
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