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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
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