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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- The University of Queensland
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Planning Commission, India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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