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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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
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- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- MS Steel International - UAE
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