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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
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