We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
|
|
|
Showing 6186 to 6190 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
|
| |
| |
|
