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.
|
|
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
|
|
|
Showing 5691 to 5695 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
|
| |
| |
|
