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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, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
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