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Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
 Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal projects, including the high quality Kubah Indah Coking Coal Project, after successfully concluding due diligence.
KRL announced the acquisition of the projects in November 2009, significantly expanding its existing coal portfolio in East Kalimantan, Indonesia.
The completion of due diligence clears the way for drilling to commence at Kubah Indah, where the company has an exploration target ranging from 100-140 million tonnes of coking coal for this project.
In a statement the company said this drilling program will be conducted in parallel with the ongoing ramp-up of production at KRL’s other Indonesian operations (which are subject to contract).
KRL Managing Director Mark O’Keeffe said the completion of due diligence on Kubah Indah and the other projects within the portfolio was another positive step forward for the company as it ramps up production in Indonesia.
“The completion of due diligence was high on our list of priorities and, as expected, the projects were found to be technically and legally sound,” he said.
“Kubah Indah in particular will become a very important project for us and, in combination with the Mamahak Project, will form the backbone of our coking coal production profile in the future."
“We will now move quickly towards the commencement of an initial exploration programme at Kubah Indah, and over the coming months we expect to be able to delineate a significant JORC resource,” added Mr O’Keeffe.
The consideration for these five acquisitions, comprising 300 million Kangaroo shares, will be issued to the project vendors upon receipt of shareholder approval.
KRL has advised that 17.5 million shares have been brought back into the company as a result of this renegotiation.
In June 2009, KRL announced an agreement relating to the acquisition of the high quality thermal coal projects Mitra Barya Karsa (MBK) and Bara Pratama (BP) which have both been subject to necessary due diligence.
The company’s economic interest in both the MBK and BP Projects will, on completion of the acquisition, be increased to 100%.
Both of these projects are considered to be highly prospective, high-quality thermal coal projects which KRL will be aiming to take into production in the medium term.
To date the prioritization of the coking coal production, particularly at the Mamahak Project, has delayed progress at MBK and BP, but KRL is still aiming to conduct the necessary work to bring these two thermal coal projects into production.
KRL also recently secured an initial export sales contract with a large Chinese energy company, Guandong Yudean Farnon Investment Co. Ltd (Yudean Farnon).
The sales contract 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 expects to extend this agreement to cover additional tonnages of coal.
Pricing for the contract is linked by formula to the Chinese Coal Index and based on indicative levels, shows very healthy margins for the blended coal to be sold.
Source: Proactive Investors
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Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
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- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
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- Indonesian Coal Mining Association
- Thai Mozambique Logistica
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
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- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
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- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
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