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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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Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
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- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
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