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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
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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