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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, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Toyota Tsusho Corporation, Japan
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- Australian Coal Association
- VISA Power Limited - India
- Indian Oil Corporation Limited
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- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
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- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
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- Tata Chemicals Ltd - India
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- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
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- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Romanian Commodities Exchange
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- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
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- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
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- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
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- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
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- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
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- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
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- Kartika Selabumi Mining - Indonesia
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- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
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- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
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- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- PTC India Limited - India
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- GN Power Mariveles Coal Plant, Philippines
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- Mintek Dendrill Indonesia
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- The University of Queensland
- SMG Consultants - Indonesia
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