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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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sakthi Sugars Limited - India
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- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
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