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