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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
 SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Resources Limited (ASX: MOU) (“Modun”), according to the company's press release.
SouthGobi intends to facilitate the sale of Tsagaan Tolgoi through the transfer of a wholly-owned subsidiary holding one mining license (15041A) and one exploration license (7262X) pertaining to that deposit.
Under the transaction, SouthGobi expects to receive US$30 million of total consideration, comprising US$7.5 million up-front in cash, US$12.5 million up-front in Modun shares and deferred consideration of an additional US$10.0 million also payable in Modun shares. As a result, SouthGobi will have a significant shareholding in Modun and it will have the right to nominate one director to the board of Modun subject to SouthGobi holding an equity interest in excess of 14.9%. The transaction is subject to certain terms and conditions and is expected to be completed by June 1, 2012.
SouthGobi believes this transaction is positive for three key reasons:
(i) Tsagaan Tolgoi Deposit has become non-core due to the location being approximately 400 kilometres to the east of the Company’s core coking coal resources;
(ii) Modun has agreed to accelerate the development of Tsagaan Tolgoi into a mining operation, which will create employment and further the development of Mongolia; and
(iii) SouthGobi will, through its significant shareholding in Modun, continue to have exposure to Tsagaan Tolgoi and will also gain exposure to Modun’s other attractive projects in Mongolia.
“This sale will allow SouthGobi to focus on further developing our Ovoot Khural basin holdings, including our flagship Ovoot Tolgoi Complex and the nearby Soumber Deposit, while retaining an indirect exposure to Tsagaan Tolgoi through our shareholding in Modun,” said Alexander Molyneux, President and CEO.
“We also believe that Modun is well placed to be able to bring Tsagaan Tolgoi into production in a timely manner.” Macquarie Capital (Hong Kong) Limited acted as SouthGobi’s financial adviser on the transaction.
About SouthGobi Resources
SouthGobi Resources is focused on exploration and development of its Permian-age metallurgical and thermal coal deposits in Mongolia’s South Gobi Region. The company’s flagship coal mine, Ovoot Tolgoi, is producing and selling coal to customers in China. The company plans to supply a wide range of coal products to markets in Asia.
About Modun Resources
ASX-listed Modun Resources is developing the 100%-owned Nuurst Project in central Mongolia. Nuurst is a thermal coal project, which encompasses a 34.5 square kilometre licence area. In late 2011, Modun Resources announced a maiden 489 million tonnes JORC compliant resource at Nuurst (417 million tonnes of Indicated resources and 72 million tonnes of Inferred resources). The Nuurst Project is located 120 kilometres south of Mongolia’s capital Ulaanbaatar and six kilometres from existing rail infrastructures.
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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
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