Author: Hatman Bintang

Glencore-Xstrata Disposes Australian Malt to Cargill

Posted by | August 6, 2013 | , , | 0 |

LONDON (Yosefardi) – Glencore Xstrata plc is selling its biggest malt producer in Australia, Joe White Maltings, to Cargill. The transaction is completed for approximately US$373 million. Joe White was acquired by Glencore as part of the Viterra acquisition. The sale is subject to standard regulatory approvals and satisfaction of other customary closing conditions and is expected to close by the end of Q4. Cargill currently operates malting facilities in Europe and the Americas, however it does not have a presence in the Australian malting market. Joe White Maltings is Australia’s largest malt producer, with seven plants, and currently supplies brewers in multiple countries in Southeast Asia, as well as Australia. Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 142,000 people in 65 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to applying its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business....

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Kupang Completes First Tranche Placement

Posted by | August 6, 2013 | , , | 0 |

BRISBANE (Yosefardi) – Kupang Resources Ltd has completed the first tranche of the $2 million share placement. The first tranche was completed by the issue of 6.67 million placement shares to raise $600,000. The balance of the placement to raise $1.4 million is subject to shareholder approval to be sought at a general meeting to be held by late August. The first tranche placement shares were issued to ‘sophisticated and institutional’ investors. The company plans to issue 22.2 million shares at 9 cents each to raise $2 million. The funds raised will be applied for the advancement of the Kupang Project in East Nusa Tenggara, supply and production costs and for general working capital purposes....

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PLN, Wijaya Karya Join Forces for Arun Gas-Fired Power Plant

PLN, Wijaya Karya Join Forces for Arun Gas-Fired Power Plant

Posted by | July 9, 2013 | , , | 0 |

JAKARTA (Yosefardi) – State-utility company PT PLN has on Monday (July 8) formalized a deal with fellow SOE PT Wijaya Karya Tbk to establish gas-fired power plant with design capacity of 184 MW in Aceh province. The agreement was signed by PLN’s CEO Nur Pamudji and Wijaya Karya’s president Bintang Perbowo. The gas fuelled plant will be located at PT Arun LNG’s area in Lhokseumawe. Based on the agreement, Wijaya works on the Engineering Procurement Construction (EPC) contract plus financing of the project. The agreement has no government guarantee, the first in PLN’s history. The plant’s construction will take...

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Peter Sondakh’s Archipelago Claims Strong Results at Jipang Gold Prospect

Posted by | January 21, 2013 | , , | 0 |

During 2012, Archipelago drilled 81 holes for 10,691m at Jipang prospect, which is located approximately 3km south of the main Toka Tindung pit. Among the results are 10m at 16.61 g/t gold, 17m at 3.81 g/t gold, and 4m at 13.21 g/t gold. “It is anticipated that these results will contribute to an updated Resource and Reserve Statement, which is expected to be released in Q1 2013,” Archipelago said Friday (Jan 18). The company’s resource currently stood at 2.58M oz Au @ 1.53 g/t or 2.69M oz Au Equivalent. In 2012, Archipelago expects to produce between 135,000 and 145,000 gold equivalent ounces at a cash cost of between US$580 and US$640 per ounce....

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Odira and IEV Gas Extend Natural Gas Processing Agreement

Posted by | January 18, 2013 | , , | 0 |

The agreement was previously signed on February 2007 for 5 years period. The agreement was made to process natural gas into Compressed Natural Gas and its distribution. Total volume of CNG expected to be processed and transported for the 12-month period from September 2012 to September 2013 would amount to approximately 759,369 mmbtu, based on the minimum off take of 85% of the total contracted units of CNG. Established in 1999, Odira is a private oil & gas company which claimed to be managed by oil & gas professionals who have at least 15 years of experiences. The company operates Karang Agung Oil & Gas Block in South Sumatera, comprises 2,463km2 area....

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