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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, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
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