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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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
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