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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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- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
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- Standard Chartered Bank - UAE
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- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
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- Economic Council, Georgia
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- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
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- Tata Chemicals Ltd - India
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- Coalindo Energy - Indonesia
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- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
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- India Bulls Power Limited - India
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- Medco Energi Mining Internasional
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- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
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- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
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- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
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- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
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- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Planning Commission, India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
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- Orica Australia Pty. Ltd.
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- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
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- Iligan Light & Power Inc, Philippines
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- Merrill Lynch Commodities Europe
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