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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
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- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
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- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
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