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