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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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Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- The University of Queensland
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
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