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.
|
|
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
|
|
|
Showing 4851 to 4855 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
|
| |
| |
|
