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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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Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- White Energy Company Limited
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
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