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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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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Australian Coal Association
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
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