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Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES


Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquisition of Pakar Coal Project from Indonesian coal company PT Bayan Resources Tbk (BYAN), as quoated by Insider Stories.

KRL's shareholders vote overwhelmingly in favour of the deal at an extraordinary general meeting in Perth today. KRL announced the proposed acquisition in December 2010. Bayan's shareholders gave approval on the deal last week.

Pakar, which is located in Kalimantan, is one of Indonesia's largest thermal coal projects, with an estimated JORC coal resource of 3.019 billion tons of thermal coal with an average calorific value range of 5,215 to 5,230 kcal/kg.

Under the terms of the transaction, KRL has issued 2.31 billion new shares to Bayan and other parties in order to acquire the Pakar Project, entitling Bayan a 56% controlling shareholding in Kangaroo. 



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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...


Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...


Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...


Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...


Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...


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