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Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
 Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal projects located in East Kalimantan, Indonesia.
The agreement, which has been signed with a large Chinese energy company, Guandong Yudean Farnon Investment Co. Ltd (Yudean Farnon), 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 intends to extend this agreement to cover additional tonnages of coal.
The company said the price negotiated for the coal is very competitive and is based on a formula reflecting fluctuation of the Chinese Coal Index.
This represents significantly better value than pricing taken from the local Indonesian market and will provide KRL with a valuable income stream as it continues to ramp-up production from its Indonesian coal portfolio.
Importantly, the agreement is non-exclusive, with KRL able to consider other off-take partners. With this in mind, the company is continuing in its discussions with other potential partners to further promote the company’s long-term strategic objectives.
KRL Managing Director Mark O’Keeffe said the signing of the export sales contract was a milestone event for the company which would provide valuable revenue as well as an entry to the Chinese export market.
“This initial sales contract with Yudean Farnon provides a strong foundation from which we can continue to ramp up the mining and export of coal from our operations in Kalimantan in Indonesia."
“We are also very pleased to be associated with an organization of the size and prestige of Yudean Farnon, which gives us an important foothold in the dominant Chinese market."
“We are confident that this deal will be very successful and we look forward to a long and mutually beneficial relationship with Yudean Farnon,” he added.
Yudean Farnon Managing Director Mr Chen stated “Kangaroo Resources Ltd represents a dynamic young company that has significant coal assets in Indonesia."
"Yudean Farnon is delighted to start a relationship with KRL and it hopes that the partnership will continue to grow as KRL builds its production ramp up,” Chen said.
KRL has focussed over the past Quarter on taking the Mamahak Coal Project into production in anticipation of delivering into an export coal sales agreement.
To date, the company has added over 20,000 tonnes of fresh coking coal to the run-of-mine (ROM) stockpile at Mamahak, in addition to the ~30,000 tonnes of coal inherited in the acquisition of this project.
An additional 15,000-20,000 tonnes of coal has been exposed at Mamahak and is ready to be mined and added to the stockpile.
This coal represents the bulk of the Mamahak coal product that will be required for the initial sales contract to Yudean and KRL is currently in the process of transporting the coal from stockpile down the Mamahak River to the Balikpapan Coal Terminal for export.
Source: Proactive Investors
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Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- International Coal Ventures Pvt Ltd - India
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- Petron Corporation, Philippines
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- Chamber of Mines of South Africa
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- Electricity Authority, New Zealand
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- Riau Bara Harum - Indonesia
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- Indian Energy Exchange, India
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- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
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- Simpson Spence & Young - Indonesia
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- Bukit Makmur.PT - Indonesia
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- Economic Council, Georgia
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- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
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- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
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- The University of Queensland
- Merrill Lynch Commodities Europe
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- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
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- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
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- IEA Clean Coal Centre - UK
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- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
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- Australian Coal Association
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- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
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- Directorate Of Revenue Intelligence - India
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