We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
|
|
|
Showing 5091 to 5095 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Australian Coal Association
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- The University of Queensland
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
|
| |
| |
|
