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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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