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, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
|
|
|
Showing 4171 to 4175 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
|
| |
| |
|
