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