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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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Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
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- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- GMR Energy Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
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