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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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Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- MS Steel International - UAE
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
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