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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, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
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- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- The University of Queensland
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
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