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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, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
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- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Minerals Council of Australia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
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- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Planning Commission, India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
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