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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
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