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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
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