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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
 COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, located some 30km to the north of Sakari’s Jembayan Mine in East Kalimantan.
According to statement posted on company’s website, under the HOA, Sakari will undertake an exploration programme and due diligence review and, if the results from these activities prove satisfactory to Sakari, the acquisition will proceed to completion.
Drilling of the properties will start in August 2012 with preliminary results expected towards the end of the year.
Sakari has paid an initial, refundable cash deposit of US$2 million. If the transaction moves to completion, Sakari will pay an additional US$2 million in cash plus an equity component, which will be determined by reference to the results from the drilling programme and the number of IUPs to be acquired.
The total equity consideration is capped at US$60 million in value, should Sakari decide to acquire an interest in all the IUPs.
The statement further said that, the HOA is between PT Separi Energy, a subsidiary of Sakari Resources Limited, and Rudy Ong Chandra and Hairil Hasmy (Sellers). Under the HOA Separi Energy may acquire 100% of the shares in all or any of PT Sepiak Jaya Kaltim, PT Cahaya Bara Kaltim, PT Bunga Jadi Lestari and PT Anugerah Pancaran Bulan, the companies which own the exploration IUP’s.
The book value, net tangible asset value and open market value of the companies have not yet been determined and they have not yet commenced business.
About Sakari:
Sakari (SGX: SAR) is a coal company with a focus on supplying thermal coal to major power utilities and industrial users in Asia. Production from Indonesia in 2011 was 10.7Mt, making it one of the country’s largest thermal coal exporters.
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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
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- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
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- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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- GVK Power & Infra Limited - India
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- Cement Manufacturers Association - India
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- Bhatia International Limited - India
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- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
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- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
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- Kumho Petrochemical, South Korea
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- International Coal Ventures Pvt Ltd - India
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- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
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- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
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- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
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- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
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- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
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- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
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- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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- Samtan Co., Ltd - South Korea
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- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
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- Romanian Commodities Exchange
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- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
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- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
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- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
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