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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, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
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- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- The University of Queensland
- Aditya Birla Group - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Latin American Coal - Colombia
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