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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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- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- The University of Queensland
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
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