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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
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