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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, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Planning Commission, India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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