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, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
|
|
|
Showing 5736 to 5740 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Bhatia International Limited - India
|
| |
| |
|
