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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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Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
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