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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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Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
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- Neyveli Lignite Corporation Ltd, - India
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- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- PTC India Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
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