We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
|
|
|
Showing 6276 to 6280 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
|
| |
| |
|
