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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, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
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