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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Riau Bara Harum - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
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