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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- The Treasury - Australian Government
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- PTC India Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
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