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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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Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
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- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
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- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
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- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
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- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- PTC India Limited - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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