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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, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
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- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
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- McConnell Dowell - Australia
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- Merrill Lynch Commodities Europe
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- PTC India Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
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- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
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- Wilmar Investment Holdings
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- Heidelberg Cement - Germany
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- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
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- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
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- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
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- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
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