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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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- The University of Queensland
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
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