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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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Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
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- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
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- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
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- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
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- Aditya Birla Group - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Mercator Lines Limited - India
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