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.
|
|
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
|
|
|
Showing 5406 to 5410 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
|
| |
| |
|