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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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Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
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- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Minerals Council of Australia
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- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
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- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
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- Bangladesh Power Developement Board
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- Sree Jayajothi Cements Limited - India
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- Trasteel International SA, Italy
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- Oldendorff Carriers - Singapore
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- Bukit Makmur.PT - Indonesia
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- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
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- Goldman Sachs - Singapore
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- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
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- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
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- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Coal and Oil Company - UAE
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
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- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
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- Mercuria Energy - Indonesia
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- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
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- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
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- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
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- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
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- Maharashtra Electricity Regulatory Commission - India
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- SN Aboitiz Power Inc, Philippines
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