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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, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
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- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
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