We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
|
|
|
Showing 4821 to 4825 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- PTC India Limited - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
|
| |
| |
|