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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
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