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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Maheswari Brothers Coal Limited - India
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- Mintek Dendrill Indonesia
- The University of Queensland
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- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Indo Tambangraya Megah - Indonesia
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- Ministry of Transport, Egypt
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- Thiess Contractors Indonesia
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- Mercator Lines Limited - India
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- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
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- Bhoruka Overseas - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
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- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
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- Planning Commission, India
- Indian Oil Corporation Limited
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- Electricity Authority, New Zealand
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- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
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- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
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- Essar Steel Hazira Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
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- Petrochimia International Co. Ltd.- Taiwan
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- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
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- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
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- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
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- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
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- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
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