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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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Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
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- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- MS Steel International - UAE
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
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- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Australian Coal Association
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
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