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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
 COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, located some 30km to the north of Sakari’s Jembayan Mine in East Kalimantan.
According to statement posted on company’s website, under the HOA, Sakari will undertake an exploration programme and due diligence review and, if the results from these activities prove satisfactory to Sakari, the acquisition will proceed to completion.
Drilling of the properties will start in August 2012 with preliminary results expected towards the end of the year.
Sakari has paid an initial, refundable cash deposit of US$2 million. If the transaction moves to completion, Sakari will pay an additional US$2 million in cash plus an equity component, which will be determined by reference to the results from the drilling programme and the number of IUPs to be acquired.
The total equity consideration is capped at US$60 million in value, should Sakari decide to acquire an interest in all the IUPs.
The statement further said that, the HOA is between PT Separi Energy, a subsidiary of Sakari Resources Limited, and Rudy Ong Chandra and Hairil Hasmy (Sellers). Under the HOA Separi Energy may acquire 100% of the shares in all or any of PT Sepiak Jaya Kaltim, PT Cahaya Bara Kaltim, PT Bunga Jadi Lestari and PT Anugerah Pancaran Bulan, the companies which own the exploration IUP’s.
The book value, net tangible asset value and open market value of the companies have not yet been determined and they have not yet commenced business.
About Sakari:
Sakari (SGX: SAR) is a coal company with a focus on supplying thermal coal to major power utilities and industrial users in Asia. Production from Indonesia in 2011 was 10.7Mt, making it one of the country’s largest thermal coal exporters.
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Thursday, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
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- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
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