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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- PTC India Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
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