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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
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