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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
|
|
|
Showing 5996 to 6000 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
|
| |
| |
|
