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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
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
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- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
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- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
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- Indo Tambangraya Megah - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
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- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- ICICI Bank Limited - India
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- Edison Trading Spa - Italy
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- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
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- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Planning Commission, India
- Anglo American - United Kingdom
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- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
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- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
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- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
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- Chamber of Mines of South Africa
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- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
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- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
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- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
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- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
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