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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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
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