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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- The University of Queensland
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
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