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Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
 COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an option at the IBP coal concession in East Kalimantan (the "Coal Project"), is pleased to announce that it has successfully negotiated an agreement to sell the IBP coal concession on behalf of the shareholders of PT Indobara Pratama ("IBP"). Daun Consulting Limited ("DCL") a Singapore-based business and finance company which has acted as agent for a Coal Investment Entity (the "Buyer"), have agreed to terms with the shareholders of IBP which are subject to the payment by the Buyer of a US$ 1 million escrow deposit, successfully completing three months due diligence and the conclusion of an IBP/DCL Share Purchase Agreement (the "SPA").
In consideration of KLG's work, the IBP selling shareholders will pay KLG US$1.37 million as to US$1 million upon completion of the SPA (projected to take place in April 2010) with the balance payable within 12 months of the first payment. In addition, KLG would be entitled to a production royalty of US$ 0.40 per tonne of coal produced from the Coal Project.
KLG will assist DCL in its due diligence, negotiations of off-take arrangements and planning mine development for which DCL will pay KLG fees of US$4.766 million, payable as to US$0.5 million upon satisfactory intermediate due diligence reporting after six weeks from due diligence commencement (projected to commence by early January 2010); a further US$2.2 million payable upon DCL signing the SPA; and US$2.066 million upon the commencement of mining of coal from the Coal Project. In addition DCL will pay KLG a production royalty of US$ 0.10 per tonne of coal produced from the Coal Project.
Commenting on the arrangement, Rahman Connelly CEO, said "Subject to completion by the parties, KLG will receive total cash payments of US$6.136 million and production royalties of US $0.50 per tonne. Given DCL's intention to commence mining during the second half of 2010, scaling up to production of 10 million tonnes annually, the most significant benefit to KLG will be the royalties of US$ 0.50 per tonne."
KLG's Coal Division is sourcing new coal areas to upgrade through drilling, with the objective of earning a share of the sale proceeds (as with IBP) or to earn an equity interest in the project.
The Coal Project
The Coal Project is already permitted for production and has the potential to be an open-cut coal mine. KLG completed a 4600m drilling program on the concession that indicates a potential deposit of 270 MTs of between 4,894 and 5,376 kcal/kg coal (air dried basis), with low ash and low sulfur content.
About Daun Consulting Limited (DCL) Singapore
DCL is a Business/Finance Consultancy, headed by Bryan Yap, former Citibank and Deutsche Bank Executive. DCL is the organizer of a Coal Investment Entity targeting US$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
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- Bhatia International Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
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