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, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
|
|
|
Showing 6401 to 6405 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
|
| |
| |
|
