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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$200 million investment, owning a portfolio of coal mines with 300-500 million ton reserves and producing 15-20 million ton/year in Indonesia. DCL targets strategic investors/coal consumers/ power plants; mine owners and financial investors in High Yielding Asset Backed investments. Further information may be obtained through coal@daunconsulting.com.
About Kalimantan Gold
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The Company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Source: www.kalimantan.com
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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Sical Logistics Limited - India
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