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.
|
|
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
|
|
|
Showing 5041 to 5045 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
|
| |
| |
|
