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Thursday, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam (BEH). PT Borneo Emas Hitam (BEH) is a coal producer in East Kalimantan in Indonesia and currently sells its entire production to an international buyer.
According to company’s website, Killara Resources (ASX Code: KRA) is a minerals explorer specializing in energy and other resources in Indonesia, with an emphasis on sustainable mining practices when and if projects are developed in conjunction with close ongoing community engagement.
“The transaction moves Killara from an explore to a producer and represents an exciting corporate transition for the company, an announcement to ASX said.
Killara will pay, pending due diligence, a minimum of US$ 2.2 million for an 80% equity interest in BEH and its wholly-owned mining concession, which is located in East Kalimantan, Indonesia, the note from company said. Should an independent technical assessment of the concession by Killara establish a mineable coal deposit of greater than 733,333 tonnes, the company will pay $3.00 for each additional tonne.
At the same time, the acquisition enables the company to become cash flow positive and be operating its own mining activities within an estimated three months, the announcement from company said.
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Tuesday, 25 June 13
NEWCASTLE PORT SHIPPED OUT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,101,378 tons of coal for the week ended 0700 hours 24 June 2013, Newcastle Port Corp. ...
Monday, 24 June 13
INDONESIA COAL SWAP FOR AUGUST 2013 DELIVERY GAINS WEEK ON WEEK
COALspot.com – Coal prices for immediate supply contracts have started moving up, but prices for next year supply shows a negative trend ...
Sunday, 23 June 13
BDI CROSSED ITS PSYCHOLOGICAL BARRIER THIS WEEK - VISTAAR
COALspot.com : The BDI crossed the psychological barrier of 1000 points after many months and closed at 1,027 points, which were up by 14.11 pct wee ...
Sunday, 23 June 13
SHIP PRICES NOT FOLLOWING FREIGHT MARKET FUNDAMENTALS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although it's been the case in many occasions in the past, it appears that ship prices haven't been quite following freight market fundamentals, i ...
Friday, 21 June 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 19.70 million short tons (mmst) of ...
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