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