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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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Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Interocean Group of Companies - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- White Energy Company Limited
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
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