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.
|
|
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
|
|
|
Showing 5066 to 5070 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
|
| |
| |
|
