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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, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
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- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
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