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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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Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
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- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
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- Chettinad Cement Corporation Ltd - India
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- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
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- Australian Commodity Traders Exchange
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- Parry Sugars Refinery, India
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- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
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- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
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- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
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