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, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
|
|
|
Showing 5401 to 5405 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
|
| |
| |
|
