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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
|
|
|
Showing 6321 to 6325 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
|
| |
| |
|
