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Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
 COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an option at the IBP coal concession in East Kalimantan (the "Coal Project"), is pleased to announce that it has successfully negotiated an agreement to sell the IBP coal concession on behalf of the shareholders of PT Indobara Pratama ("IBP"). Daun Consulting Limited ("DCL") a Singapore-based business and finance company which has acted as agent for a Coal Investment Entity (the "Buyer"), have agreed to terms with the shareholders of IBP which are subject to the payment by the Buyer of a US$ 1 million escrow deposit, successfully completing three months due diligence and the conclusion of an IBP/DCL Share Purchase Agreement (the "SPA").
In consideration of KLG's work, the IBP selling shareholders will pay KLG US$1.37 million as to US$1 million upon completion of the SPA (projected to take place in April 2010) with the balance payable within 12 months of the first payment. In addition, KLG would be entitled to a production royalty of US$ 0.40 per tonne of coal produced from the Coal Project.
KLG will assist DCL in its due diligence, negotiations of off-take arrangements and planning mine development for which DCL will pay KLG fees of US$4.766 million, payable as to US$0.5 million upon satisfactory intermediate due diligence reporting after six weeks from due diligence commencement (projected to commence by early January 2010); a further US$2.2 million payable upon DCL signing the SPA; and US$2.066 million upon the commencement of mining of coal from the Coal Project. In addition DCL will pay KLG a production royalty of US$ 0.10 per tonne of coal produced from the Coal Project.
Commenting on the arrangement, Rahman Connelly CEO, said "Subject to completion by the parties, KLG will receive total cash payments of US$6.136 million and production royalties of US $0.50 per tonne. Given DCL's intention to commence mining during the second half of 2010, scaling up to production of 10 million tonnes annually, the most significant benefit to KLG will be the royalties of US$ 0.50 per tonne."
KLG's Coal Division is sourcing new coal areas to upgrade through drilling, with the objective of earning a share of the sale proceeds (as with IBP) or to earn an equity interest in the project.
The Coal Project
The Coal Project is already permitted for production and has the potential to be an open-cut coal mine. KLG completed a 4600m drilling program on the concession that indicates a potential deposit of 270 MTs of between 4,894 and 5,376 kcal/kg coal (air dried basis), with low ash and low sulfur content.
About Daun Consulting Limited (DCL) Singapore
DCL is a Business/Finance Consultancy, headed by Bryan Yap, former Citibank and Deutsche Bank Executive. DCL is the organizer of a Coal Investment Entity targeting US$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
Wednesday, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
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- White Energy Company Limited
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
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