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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
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- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
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- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
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- Medco Energi Mining Internasional
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- Indogreen Group - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
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- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
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- Ministry of Transport, Egypt
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- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
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