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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$52 million per annum.
Jongkang coal is a premium product with adb GCV 6950 cal/g, 2% ash and 0.7% sulphur. It will be blended down to GCV 6300 to meet the required Chinese specifications, commanding a strong sales price.
OGL's joint venture arrangement in Indonesia is with Malaysian owned group, Golden Focus Group Limited (Hong Kong) and their Indonesian entity, PT Indotrade Resources, which is a successful coal miner in Indonesia producing around 2mtpa of export grade steaming coal from East Kalimantan to China and Korea.
PT OGL Indotrade Resources has rights to mine and sell coal from the Rahmat, Jongkang, Pagar and Jambi coal tenements.
OGL aims to become a medium sized producer of metallurgical and steaming coal in Australia and Indonesia, both major coal producing nations.
Source: Proactive Investors
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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- The University of Queensland
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
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