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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
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