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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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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- White Energy Company Limited
- The University of Queensland
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
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