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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, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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Showing 4816 to 4820 news of total 6871 |
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- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Marubeni Corporation - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
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