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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, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
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- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
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- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
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- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Planning Commission, India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
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- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
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- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
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- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Australian Coal Association
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
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