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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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
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- London Commodity Brokers - England
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
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- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
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- Tamil Nadu electricity Board
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- The State Trading Corporation of India Ltd
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- Directorate General of MIneral and Coal - Indonesia
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- Merrill Lynch Commodities Europe
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- Samtan Co., Ltd - South Korea
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- SMG Consultants - Indonesia
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- Economic Council, Georgia
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- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- The University of Queensland
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
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- AsiaOL BioFuels Corp., Philippines
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- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
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- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
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- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
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- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
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- Indonesian Coal Mining Association
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