We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
 COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Resources Corp announces that, through its wholly owned subsidiary, P.T. Bestindo Energy, ("Bestindo") it has entered into a conditional sales and purchase agreement (the "CSPA") with PT Alam Tabang Raya Pratama ("ATRP") and its shareholders for the purchase of 100% of the issued and outstanding securities of ATRP for an aggregate purchase price of approximately CAD $1,851,335, which will be funded by cash payments staged over approximately 18 months.
ATRP is an privately-held Indonesian company that holds the coal exploration rights to a property located in the Mahakam river basin in East Kalimantan, Indonesia (the "Tabang Project"). ATRP has no other assets and has conducted no business other than holding its interest in the Tabang Project.
The acquisition of the Tabang Project is subject to approval of the TSX Venture Exchange.
About the Tabang Project
The 2,900ha Tabang Project is located in the Tabang district, Regency of Kutai Kartanegara, East Kalimantan, Indonesia.
The project area is accessible by vehicle with well established logging roads and is situated in close proximity to the Belayan River, a major tributary of the Mahakam which in turn is the coal transport route to Muara Jawa, the anchorage point for mother vessels and export to market. This river has the capacity to handle 230 foot (3,500 tonnes) barges from projected port facilities.
Coal operations in the area currently use the Belayan River as a transportation highway for commercial coal production.
The Tabang Project area covers both the Batuayau and Ujoh Bilang geological formations. The typical coal quality of the Ujoh Bilang and Batuayau Formations from producing coal mines in the region is CV 5,600 - 6,000 Kcal/Kg (ADB) with coal seam thicknesses varying from 0.5 - 6 meters. A preliminary field assessment conducted by Challenger has determined the presence of at least five outcrops of coal which indicates shallow dipping coal seams.
The current exploration rights for the project are held in the form of a SKIP, a permit to conduct reconnaissance surveys for the purpose of applying for an IUP, exploration permit. There are no work commitments associated with the SKIP. The SKIP allows for preliminary exploration, not including resource drilling. ATRP has applied for the IUP which, if issued, would permit drilling operations. If further exploration results warrant it, a permit for actual mining operations would be required and applied for. Surface access to the project area is subject to negotiation with local land owners and typically provides for compensation for damages caused by exploration activities
A comprehensive work program of surface mapping, trenching, sampling and analysis is being prepared to evaluate the potential of the Tabang Project. If and when the IUP (Exploration Permit) has been issued for the Tabang Project, exploration drilling operations may be initiated. This stage will depend upon the results of the initial work program.
Terms of the CSPA
Pursuant to the terms of the CSPA, Bestindo paid CAD $34,069 upon execution of the CSPA and will pay the remaining $1,817,266 over the next approximately 18 months, in three scheduled payments. Timing of the remaining payments to be made are based on the date of the issuance of the IUP by the relevant Indonesian Governmental authority. Bestindo may terminate its payment obligations under the CSPA at any time and once terminated, would not be under any further obligation to make any further payments and would lose its interest in the Tabang Project. Once all $1,851,335 is paid by Bestindo, the shareholders of ATRP will transfer, collectively, 100% of the issued and outstanding securities of ATRP to Bestindo. The CSPA provides that upon Bestindo's production and sale of coal from the property, it will grant and pay to the vendors of the shares of ATRP, a royalty of USD $1.50 per ton.
Challenger CEO, Ranjeet Sundher, commented, "We are very pleased with the acquisition of the Tabang coal project. Our focus is to build commerically economic resources in this area through acquisition and exploration. Challenger also plans to develop suitable infrastructure in the area so that future acquisitions are synergistic and compliment each other."
The Qualified Person responsible for the review and approval of the technical material presented in this news release is Mr. Andre Talaska, a director of Bestindo.
Challenger proposes to pay a finder's fee to an arm's length party in connection with the introduction of acquisition opportunity. The finder's fee will be payable in common shares of Challenger in an amount calculated in accordance with the TSX Venture Exchange policies and subject to the approval of the TSX Venture Exchange.
The purchase price under the CSPA is payable in Indonesian Rupiahs (IDR) and figures used in this release are based on a conversion rate of 1.00 IDR = 0.000113578CAD.
Indonesian Office
Challenger has also recently opened a Jakarta, Indonesia office from which the Bestindo staff and local partners will carry out project exploration and development as well as the ongoing due diligence Challenger is performing on several other acquisition opportunities.
For more information, please contact Darold H. Parken, Director at: phone: 403-262-3238, fax: 403237-5816, email: info@challengerdeep.ca or visit Challenger’s website at www.challengerdeep.ca.
Source: Challenger Deep
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
|
|
|
Showing 5526 to 5530 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
|
| |
| |
|
