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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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Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
Tuesday, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
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- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
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- Bangladesh Power Developement Board
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- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
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- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
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- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
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