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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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- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- The University of Queensland
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
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