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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, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
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