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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Electricity Authority, New Zealand
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- Price Waterhouse Coopers - Russia
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- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
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- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
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- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
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- Goldman Sachs - Singapore
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- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
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- Altura Mining Limited, Indonesia
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- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
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- Cement Manufacturers Association - India
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- Indika Energy - Indonesia
- Central Electricity Authority - India
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- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
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- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- PTC India Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
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- The University of Queensland
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
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- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
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- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- White Energy Company Limited
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
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- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
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- Sarangani Energy Corporation, Philippines
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