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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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
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