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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
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