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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, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
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