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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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- The University of Queensland
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
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