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