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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
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