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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, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
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