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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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Tuesday, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- The University of Queensland
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
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