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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, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
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- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
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