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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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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
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