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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
|
|
|
Showing 5961 to 5965 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Siam City Cement - Thailand
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- London Commodity Brokers - England
|
| |
| |
|
