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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
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