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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
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