Tigers Realm inks agreement with JV partners to increase Amaam ownership
JOHANNESBURG (miningweekly.com) – Emerging global coking coal producer Tigers Realm Coal has signed two binding heads of agreement (HoAs) with its joint venture (JV) partners to increase its percentage ownership of the Amaam North project, in far-east Russia, from 80% to 100%, and to reduce yearly JV payments on the project’s coal revenues, compared with current royalties.
Tigers Realm aimed to reduce the total payment and duration of JV payments attributable to revenues from Amaam North.
The company said it would also amend the shareholder’s agreement for the Amaam project to streamline the approval and governance processes.
The first HoA, signed with Cyprus-domiciled BS Chukchi Investments, committed the JV partner to converting its 20% interest in the project to a 2% royalty of gross sales revenue from coal produced at Amaam, thereby increasing Tigers Realm’s ownership of the project.
BS Chukchi would also acquire 3% royalty of gross sales revenue from Siberian Tigers International. Tigers Realm would then acquire the 2% and 3% royalties for $25-million, to be paid within 20 years.
The second HoA, signed with Bering Coal Investments, covers amendments to the Amaam project to improve the processes governing the joint partners’ decision to develop and mine coal at Amaam, and to improve corporate reporting and board processes, as well as work programme approval and management processes.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation