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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, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- MS Steel International - UAE
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
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