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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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Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
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- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
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