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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Holcim Trading Pte Ltd - Singapore
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- Singapore Mercantile Exchange
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- Jorong Barutama Greston.PT - Indonesia
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- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
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- Global Coal Blending Company Limited - Australia
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- Toyota Tsusho Corporation, Japan
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- Kalimantan Lumbung Energi - Indonesia
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- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
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- Sinarmas Energy and Mining - Indonesia
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- Australian Coal Association
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- Goldman Sachs - Singapore
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- London Commodity Brokers - England
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- Economic Council, Georgia
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- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- New Zealand Coal & Carbon
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- McConnell Dowell - Australia
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- Standard Chartered Bank - UAE
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- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
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- White Energy Company Limited
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
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- Ceylon Electricity Board - Sri Lanka
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- Bharathi Cement Corporation - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
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