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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
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
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