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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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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
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