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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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Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
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- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- The University of Queensland
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
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