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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, located some 30km to the north of Sakari’s Jembayan Mine in East Kalimantan.
According to statement posted on company’s website, under the HOA, Sakari will undertake an exploration programme and due diligence review and, if the results from these activities prove satisfactory to Sakari, the acquisition will proceed to completion.
Drilling of the properties will start in August 2012 with preliminary results expected towards the end of the year.
Sakari has paid an initial, refundable cash deposit of US$2 million. If the transaction moves to completion, Sakari will pay an additional US$2 million in cash plus an equity component, which will be determined by reference to the results from the drilling programme and the number of IUPs to be acquired.
The total equity consideration is capped at US$60 million in value, should Sakari decide to acquire an interest in all the IUPs.
The statement further said that, the HOA is between PT Separi Energy, a subsidiary of Sakari Resources Limited, and Rudy Ong Chandra and Hairil Hasmy (Sellers). Under the HOA Separi Energy may acquire 100% of the shares in all or any of PT Sepiak Jaya Kaltim, PT Cahaya Bara Kaltim, PT Bunga Jadi Lestari and PT Anugerah Pancaran Bulan, the companies which own the exploration IUP’s.
The book value, net tangible asset value and open market value of the companies have not yet been determined and they have not yet commenced business.
About Sakari:
Sakari (SGX: SAR) is a coal company with a focus on supplying thermal coal to major power utilities and industrial users in Asia. Production from Indonesia in 2011 was 10.7Mt, making it one of the country’s largest thermal coal exporters.
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Friday, 06 September 24
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The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Commonwealth Bank - Australia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
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- Wilmar Investment Holdings
- Coal and Oil Company - UAE
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- Central Java Power - Indonesia
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- Wood Mackenzie - Singapore
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- VISA Power Limited - India
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- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
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- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
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- Indogreen Group - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
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- Coalindo Energy - Indonesia
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- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
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- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
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- Global Coal Blending Company Limited - Australia
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- Baramulti Group, Indonesia
- The University of Queensland
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- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
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- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
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- Ministry of Finance - Indonesia
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- White Energy Company Limited
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- Miang Besar Coal Terminal - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
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- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
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- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
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- Power Finance Corporation Ltd., India
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- Krishnapatnam Port Company Ltd. - India
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- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
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