We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
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 ...
|
|
|
Showing 4826 to 4830 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
|
| |
| |
|
