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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
 SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Resources Limited (ASX: MOU) (“Modun”), according to the company's press release.
SouthGobi intends to facilitate the sale of Tsagaan Tolgoi through the transfer of a wholly-owned subsidiary holding one mining license (15041A) and one exploration license (7262X) pertaining to that deposit.
Under the transaction, SouthGobi expects to receive US$30 million of total consideration, comprising US$7.5 million up-front in cash, US$12.5 million up-front in Modun shares and deferred consideration of an additional US$10.0 million also payable in Modun shares. As a result, SouthGobi will have a significant shareholding in Modun and it will have the right to nominate one director to the board of Modun subject to SouthGobi holding an equity interest in excess of 14.9%. The transaction is subject to certain terms and conditions and is expected to be completed by June 1, 2012.
SouthGobi believes this transaction is positive for three key reasons:
(i) Tsagaan Tolgoi Deposit has become non-core due to the location being approximately 400 kilometres to the east of the Company’s core coking coal resources;
(ii) Modun has agreed to accelerate the development of Tsagaan Tolgoi into a mining operation, which will create employment and further the development of Mongolia; and
(iii) SouthGobi will, through its significant shareholding in Modun, continue to have exposure to Tsagaan Tolgoi and will also gain exposure to Modun’s other attractive projects in Mongolia.
“This sale will allow SouthGobi to focus on further developing our Ovoot Khural basin holdings, including our flagship Ovoot Tolgoi Complex and the nearby Soumber Deposit, while retaining an indirect exposure to Tsagaan Tolgoi through our shareholding in Modun,” said Alexander Molyneux, President and CEO.
“We also believe that Modun is well placed to be able to bring Tsagaan Tolgoi into production in a timely manner.” Macquarie Capital (Hong Kong) Limited acted as SouthGobi’s financial adviser on the transaction.
About SouthGobi Resources
SouthGobi Resources is focused on exploration and development of its Permian-age metallurgical and thermal coal deposits in Mongolia’s South Gobi Region. The company’s flagship coal mine, Ovoot Tolgoi, is producing and selling coal to customers in China. The company plans to supply a wide range of coal products to markets in Asia.
About Modun Resources
ASX-listed Modun Resources is developing the 100%-owned Nuurst Project in central Mongolia. Nuurst is a thermal coal project, which encompasses a 34.5 square kilometre licence area. In late 2011, Modun Resources announced a maiden 489 million tonnes JORC compliant resource at Nuurst (417 million tonnes of Indicated resources and 72 million tonnes of Inferred resources). The Nuurst Project is located 120 kilometres south of Mongolia’s capital Ulaanbaatar and six kilometres from existing rail infrastructures.
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Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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Showing 4716 to 4720 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Australian Coal Association
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
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