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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
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