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.
|
|
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
|
|
|
Showing 5311 to 5315 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Parliament of New Zealand
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
|
| |
| |
|
