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