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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
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- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- PTC India Limited - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
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- Coal and Oil Company - UAE
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- Australian Commodity Traders Exchange
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- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
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- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
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- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Parliament of New Zealand
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
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- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
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- Bangladesh Power Developement Board
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- Attock Cement Pakistan Limited
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- Bukit Makmur.PT - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
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- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
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- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
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- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
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- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
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- White Energy Company Limited
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
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- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
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