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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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Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
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- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- The University of Queensland
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
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