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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
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