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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, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
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- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Parliament of New Zealand
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