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.
|
|
Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
|
|
|
Showing 6051 to 6055 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- White Energy Company Limited
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
|
| |
| |
|
