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, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
|
|
|
Showing 1436 to 1440 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Economic Council, Georgia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Australian Coal Association
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
|
| |
| |
|
