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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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Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Minerals Council of Australia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
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