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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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Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
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- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
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- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- The University of Queensland
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
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