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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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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Bhatia International Limited - India
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- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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