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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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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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