We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
|
|
|
Showing 6196 to 6200 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
|
| |
| |
|
