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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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Mintek Dendrill Indonesia
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- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
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- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
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- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
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- Sindya Power Generating Company Private Ltd
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- MS Steel International - UAE
- Chamber of Mines of South Africa
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- Minerals Council of Australia
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- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
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- Bulk Trading Sa - Switzerland
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- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
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- White Energy Company Limited
- Planning Commission, India
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- ICICI Bank Limited - India
- Mjunction Services Limited - India
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- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
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- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
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- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
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- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
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- Eastern Energy - Thailand
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- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
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- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
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- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
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- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Thiess Contractors Indonesia
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- Antam Resourcindo - Indonesia
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- Parliament of New Zealand
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- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
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- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
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- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
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- Pendopo Energi Batubara - Indonesia
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- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
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- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
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- The University of Queensland
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- Eastern Coal Council - USA
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- Leighton Contractors Pty Ltd - Australia
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- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Economic Council, Georgia
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- Renaissance Capital - South Africa
- VISA Power Limited - India
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