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Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
 Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million through the issue of new shares to Indonesian coal company PT Bayan Resources Tbk.
Bayan, which will emerge with a 57% stake in the Australian company as a result of the deal, also signed a memorandum of understanding to immediately start managing all of Kangaroo Resources' Indonesian coal operations. The arrangements are subject to due diligence, shareholder and regulatory approval, Kangaroo Resources said in a statement.
Together with Kangaroo Resources' other Indonesian coal assets, which include the 100%-owned Mamahak coking coal project now in production, the Tanur Jaya thermal coal project and the GPK thermal coal project, this latest purchase, “will reposition Kangaroo Resources as a world-scale Indonesian coal producer,“ it said.
Bayan has a market capitalisation of US$4.5 billion, total coal resources of more than 1 billion metric tons and reserves of 500 million tons in eight mining concessions in East and South Kalimantan, and is a major participant in the Indonesian coking and thermal coal markets, Kangaroo said.
Bayan is targeting 2010 coal sales of 12 million tons for nearly US$1 billion in revenues and US$150 million in earnings before interest, tax, depreciation and amortization. The Pakar project has total coal resources of 3.8 billion tons and reserves of 116 million tons.
Kangaroo has been earning a 49% stake in the Tanur Jaya concession--one of the nine concessions within the Pakar Project--over the past 12 months and this position will now be incorporated into the overall 99% interest that Kangaroo is buying in the Pakar project. In addition to its mines, Bayan owns the Balikpapan Coal Terminal, one of the largest coal terminals in Indonesia with a handling capacity of 15 million tons a year.
Source : Kompas / Newsterupdate
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Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
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- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
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- Ministry of Finance - Indonesia
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- Chamber of Mines of South Africa
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- Price Waterhouse Coopers - Russia
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- Planning Commission, India
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- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
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- Thai Mozambique Logistica
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- IHS Mccloskey Coal Group - USA
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- Global Coal Blending Company Limited - Australia
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- Parry Sugars Refinery, India
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- Kaltim Prima Coal - Indonesia
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- The State Trading Corporation of India Ltd
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- White Energy Company Limited
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- Bhatia International Limited - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
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- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
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- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
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- MS Steel International - UAE
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- Sree Jayajothi Cements Limited - India
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- Oldendorff Carriers - Singapore
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- Heidelberg Cement - Germany
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- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
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- Sindya Power Generating Company Private Ltd
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- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
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- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- London Commodity Brokers - England
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- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
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- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
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- Mintek Dendrill Indonesia
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- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
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- ICICI Bank Limited - India
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- Formosa Plastics Group - Taiwan
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- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
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