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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Minerals Council of Australia
- Videocon Industries ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
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