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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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Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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