KAL Energy Inc. (OTCBB: KALG) Stock Guru Profile
Figures from the General Administration of Customs showed that China imported 4.7 million metric tons of coal in January, up 81% compared with a year earlier, while exports were down by a fifth at 3.29 million tons.
Coal imports from Indonesia posted the largest growth. China imported 1.16 million tons of coal from the Southeast Asian country in January, up nearly six times from a year earlier.
Although the volumes are small when compared with total domestic output in China, it is the sharp swing that has captured the attention of analysts, who point to Beijing’s recent elimination of an 8% export tax rebate on coal sales.
If sustained, China would become a net importer of around 16 million tons of coal this year compared with net exports of 25 million tons. That would represent a turnaround of 40 million tons, or nearly half of the total coal imports of South Korea.
China’s Coal Imports in January 2007 (by country)
Vietnam 2.36 million tons
Indonesia 1.16 million tons
Australia 530,000 tons
North Korea 373,000 tons
Mongolia 124,000 tons
Russia 105,000 tons
Canada 49,000 tons
Total: 4.7 million tonsSource: General Administration of Customs
-By David Winning, Dow Jones Newswires; 8610-65885848; david.winning@dowjones.com
KAL Energy is entering the coal mining field as China begins to search outside her boarders for coal and other Asian emerging economies look to coal as an energy resource.
KAL is centrally located and the ability to float the coal down the river to the port is pivotal in reducing the costs associated with their coal.
Contact Info
KAL Energy, Inc.
93-95 Gloucester Place
London, W1U 6JQ
United Kingdom
Phone: +44 20 7487 8426
Fax: +44 20 7691 9725 (direct)
Email:
a.caminschi@mininghouse.com
KAL Energy Inc. (OTCBB: KALG), through its wholly owned subsidiary Thatcher Mining Pte., has the rights to two coal concessions situated near the Mahakam River in North Eastern Kalimantan, Indonesia. This river is a main transportation system for transporting coal to nearby markets. Consulting Geologist, Jonathan O’Dell, has estimated that blocks 16 & 24 could contain over 192,000,000 tons of thermal coal. Today Indonesia is the leading exporter of thermal coal and export prices vary from $30.00 to $60.00 plus per ton. This region has been an active coal exporter since the 1990s, and in 2004 Indonesia passed Australia as the largest exporter of thermal coal. Governmental signing was achieved on Sep. 14th, 2006. Title & Ownership structure has been extensively reviewed by HHP, the in-country affiliate of Baker & McKenzie International.
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