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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
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