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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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Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
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