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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, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
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- Georgia Ports Authority, United States
- White Energy Company Limited
- Planning Commission, India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
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