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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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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
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