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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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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Anglo American - United Kingdom
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
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