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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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Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
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