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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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Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
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- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Australian Coal Association
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
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