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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
|
|
|
Showing 6066 to 6070 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
|
| |
| |
|