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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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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Interocean Group of Companies - India
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