We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
|
|
|
Showing 6261 to 6265 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
|
| |
| |
|
