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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, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
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- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Planning Commission, India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
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