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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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- Sakthi Sugars Limited - India
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- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
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