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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
|
|
|
Showing 5991 to 5995 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- The University of Queensland
- Central Electricity Authority - India
- MS Steel International - UAE
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Australian Coal Association
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
|
| |
| |
|
