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Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has entered into a binding offer for the sale of its premium quality Jongkang coal with a Chinese power utility.
This is a final step prior to executing a sales contract for the supply of 50,000 tonnes per month commencing September 2010 at an FOB vessel price of U$80 per tonne for 6,300 cal/kg GCV coal.
Jack Tan, chairman, said the coal sales will provide OGL Indotrade with a revenue stream of $52 million per annum and has the capacity to transform OGL into a successful coal player.
Bonuses and penalties exist for any variation of coal quality. Following the successful delivery of a 40,000 tonne trial cargo, the contract will have a 12-month term.
The Jongkang Coal Mine is located near Tenggarong in East Kalimantan, Indonesia. The lease is a 94-hectare IUP Exploitation with all permits in order for immediate mine operations.
Jongkang’s 25,000 tonnes per month product will be complemented by the purchase of coal from a neighbouring supplier, to allow the company to sell 50,000 tonnes per month from September 2010.
The resultant operation will provide the company with revenues of U$4.0 million per month or U$52 million per annum.
Jongkang coal is a premium product with adb GCV 6950 cal/g, 2% ash and 0.7% sulphur. It will be blended down to GCV 6300 to meet the required Chinese specifications, commanding a strong sales price.
OGL's joint venture arrangement in Indonesia is with Malaysian owned group, Golden Focus Group Limited (Hong Kong) and their Indonesian entity, PT Indotrade Resources, which is a successful coal miner in Indonesia producing around 2mtpa of export grade steaming coal from East Kalimantan to China and Korea.
PT OGL Indotrade Resources has rights to mine and sell coal from the Rahmat, Jongkang, Pagar and Jambi coal tenements.
OGL aims to become a medium sized producer of metallurgical and steaming coal in Australia and Indonesia, both major coal producing nations.
Source: Proactive Investors
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Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
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- Alfred C Toepfer International GmbH - Germany
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- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Parliament of New Zealand
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- Commonwealth Bank - Australia
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- Africa Commodities Group - South Africa
- The University of Queensland
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- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
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- Star Paper Mills Limited - India
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- Bhoruka Overseas - Indonesia
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- Intertek Mineral Services - Indonesia
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- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
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- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
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- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
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- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
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- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
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- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
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- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
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- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Australian Coal Association
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- GMR Energy Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
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- MS Steel International - UAE
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
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- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
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- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
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