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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, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Coal and Oil Company - UAE
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- Indian Energy Exchange, India
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- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
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- Planning Commission, India
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- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Aditya Birla Group - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
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- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- The University of Queensland
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
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