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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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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
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