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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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Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Posco Energy - South Korea
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- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
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- ASAPP Information Group - India
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- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
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