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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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Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
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- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Thai Mozambique Logistica
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- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
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- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
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- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
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