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.
|
|
Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
|
|
|
Showing 6181 to 6185 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
|
| |
| |
|
