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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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Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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Showing 4816 to 4820 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
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