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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, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Economic Council, Georgia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- White Energy Company Limited
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
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