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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Gujarat Sidhee Cement - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
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- Chamber of Mines of South Africa
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- Mjunction Services Limited - India
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- Alfred C Toepfer International GmbH - Germany
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- Romanian Commodities Exchange
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- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Agrawal Coal Company - India
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- Ministry of Transport, Egypt
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- PTC India Limited - India
- White Energy Company Limited
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- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
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- Bulk Trading Sa - Switzerland
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- SMC Global Power, Philippines
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- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
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- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
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- TeaM Sual Corporation - Philippines
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- Economic Council, Georgia
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- McConnell Dowell - Australia
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- Mintek Dendrill Indonesia
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- Rio Tinto Coal - Australia
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- Wilmar Investment Holdings
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- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
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- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
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- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
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- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
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- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
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- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
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- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
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- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
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- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
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- Sinarmas Energy and Mining - Indonesia
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