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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, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
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- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Australian Coal Association
- Bhatia International Limited - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
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