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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
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