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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
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