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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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Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
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- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
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- Salva Resources Pvt Ltd - India
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- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
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- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Economic Council, Georgia
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- London Commodity Brokers - England
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Parliament of New Zealand
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- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
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- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
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- Port Waratah Coal Services - Australia
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- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
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- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
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