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