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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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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Mintek Dendrill Indonesia
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- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
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- Binh Thuan Hamico - Vietnam
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- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
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- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
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