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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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- The University of Queensland
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
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