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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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Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
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- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
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- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
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- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
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- Baramulti Group, Indonesia
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- Globalindo Alam Lestari - Indonesia
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- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- The University of Queensland
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Posco Energy - South Korea
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