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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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
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