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