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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
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- The University of Queensland
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- New Zealand Coal & Carbon
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- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
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- Banpu Public Company Limited - Thailand
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- Commonwealth Bank - Australia
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- Thiess Contractors Indonesia
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- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
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- Indonesian Coal Mining Association
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- Metalloyd Limited - United Kingdom
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- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
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- Attock Cement Pakistan Limited
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- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
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- MS Steel International - UAE
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- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
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- Parry Sugars Refinery, India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
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- White Energy Company Limited
- Ministry of Transport, Egypt
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- PowerSource Philippines DevCo
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- Merrill Lynch Commodities Europe
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
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- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
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- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
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- Australian Commodity Traders Exchange
- Australian Coal Association
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
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- Energy Development Corp, Philippines
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- Aditya Birla Group - India
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- Eastern Energy - Thailand
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- Economic Council, Georgia
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- Ministry of Finance - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
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- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
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