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