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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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Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
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- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
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