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Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
 Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has entered into a binding offer for the sale of its premium quality Jongkang coal with a Chinese power utility.
This is a final step prior to executing a sales contract for the supply of 50,000 tonnes per month commencing September 2010 at an FOB vessel price of U$80 per tonne for 6,300 cal/kg GCV coal.
Jack Tan, chairman, said the coal sales will provide OGL Indotrade with a revenue stream of $52 million per annum and has the capacity to transform OGL into a successful coal player.
Bonuses and penalties exist for any variation of coal quality. Following the successful delivery of a 40,000 tonne trial cargo, the contract will have a 12-month term.
The Jongkang Coal Mine is located near Tenggarong in East Kalimantan, Indonesia. The lease is a 94-hectare IUP Exploitation with all permits in order for immediate mine operations.
Jongkang’s 25,000 tonnes per month product will be complemented by the purchase of coal from a neighbouring supplier, to allow the company to sell 50,000 tonnes per month from September 2010.
The resultant operation will provide the company with revenues of U$4.0 million per month or U$52 million per annum.
Jongkang coal is a premium product with adb GCV 6950 cal/g, 2% ash and 0.7% sulphur. It will be blended down to GCV 6300 to meet the required Chinese specifications, commanding a strong sales price.
OGL's joint venture arrangement in Indonesia is with Malaysian owned group, Golden Focus Group Limited (Hong Kong) and their Indonesian entity, PT Indotrade Resources, which is a successful coal miner in Indonesia producing around 2mtpa of export grade steaming coal from East Kalimantan to China and Korea.
PT OGL Indotrade Resources has rights to mine and sell coal from the Rahmat, Jongkang, Pagar and Jambi coal tenements.
OGL aims to become a medium sized producer of metallurgical and steaming coal in Australia and Indonesia, both major coal producing nations.
Source: Proactive Investors
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Saturday, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
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- Krishnapatnam Port Company Ltd. - India
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- Singapore Mercantile Exchange
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- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
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- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
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- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
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- Wood Mackenzie - Singapore
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- Bhoruka Overseas - Indonesia
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- Minerals Council of Australia
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- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
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- Antam Resourcindo - Indonesia
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- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
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- SN Aboitiz Power Inc, Philippines
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Planning Commission, India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
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- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
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- VISA Power Limited - India
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- New Zealand Coal & Carbon
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- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
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- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
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- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
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- Parliament of New Zealand
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- Global Coal Blending Company Limited - Australia
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- Trasteel International SA, Italy
- Thiess Contractors Indonesia
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- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
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- Bulk Trading Sa - Switzerland
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- The Treasury - Australian Government
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- PowerSource Philippines DevCo
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- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
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