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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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Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
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- Maheswari Brothers Coal Limited - India
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- Romanian Commodities Exchange
- Medco Energi Mining Internasional
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- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
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- Eastern Energy - Thailand
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- Ministry of Mines - Canada
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- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
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- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
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- Miang Besar Coal Terminal - Indonesia
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- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
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- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
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- Mjunction Services Limited - India
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- Rio Tinto Coal - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Economic Council, Georgia
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- Bhatia International Limited - India
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- The State Trading Corporation of India Ltd
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- Indonesian Coal Mining Association
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- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
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- Chamber of Mines of South Africa
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- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Anglo American - United Kingdom
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- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
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- GMR Energy Limited - India
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- Indika Energy - Indonesia
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- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
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- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
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- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
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- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
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- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
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