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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, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
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