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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, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
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- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
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