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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, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
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- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
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