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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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- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Petron Corporation, Philippines
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