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Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
 Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million through the issue of new shares to Indonesian coal company PT Bayan Resources Tbk.
Bayan, which will emerge with a 57% stake in the Australian company as a result of the deal, also signed a memorandum of understanding to immediately start managing all of Kangaroo Resources' Indonesian coal operations. The arrangements are subject to due diligence, shareholder and regulatory approval, Kangaroo Resources said in a statement.
Together with Kangaroo Resources' other Indonesian coal assets, which include the 100%-owned Mamahak coking coal project now in production, the Tanur Jaya thermal coal project and the GPK thermal coal project, this latest purchase, “will reposition Kangaroo Resources as a world-scale Indonesian coal producer,“ it said.
Bayan has a market capitalisation of US$4.5 billion, total coal resources of more than 1 billion metric tons and reserves of 500 million tons in eight mining concessions in East and South Kalimantan, and is a major participant in the Indonesian coking and thermal coal markets, Kangaroo said.
Bayan is targeting 2010 coal sales of 12 million tons for nearly US$1 billion in revenues and US$150 million in earnings before interest, tax, depreciation and amortization. The Pakar project has total coal resources of 3.8 billion tons and reserves of 116 million tons.
Kangaroo has been earning a 49% stake in the Tanur Jaya concession--one of the nine concessions within the Pakar Project--over the past 12 months and this position will now be incorporated into the overall 99% interest that Kangaroo is buying in the Pakar project. In addition to its mines, Bayan owns the Balikpapan Coal Terminal, one of the largest coal terminals in Indonesia with a handling capacity of 15 million tons a year.
Source : Kompas / Newsterupdate
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Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Malabar Cements Ltd - India
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- Kalimantan Lumbung Energi - Indonesia
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- Mercator Lines Limited - India
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- Eastern Coal Council - USA
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- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
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- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
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- Rashtriya Ispat Nigam Limited - India
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- Trasteel International SA, Italy
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- Ministry of Mines - Canada
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- Directorate General of MIneral and Coal - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
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- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
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- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
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- South Luzon Thermal Energy Corporation
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- Sarangani Energy Corporation, Philippines
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- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- IHS Mccloskey Coal Group - USA
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
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- Independent Power Producers Association of India
- Sical Logistics Limited - India
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- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
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- Parliament of New Zealand
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- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
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- Thai Mozambique Logistica
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- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
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- Indian Energy Exchange, India
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- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
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