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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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Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
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- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
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