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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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Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
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