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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Planning Commission, India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
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