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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Parry Sugars Refinery, India
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- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
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