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, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
|
|
|
Showing 6676 to 6680 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- ASAPP Information Group - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
|
| |
| |
|
