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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- VISA Power Limited - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
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