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.
|
|
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
|
|
|
Showing 5851 to 5855 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- White Energy Company Limited
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Planning Commission, India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Minerals Council of Australia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Sical Logistics Limited - India
|
| |
| |
|
