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.
|
|
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
|
|
|
Showing 5121 to 5125 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
|
| |
| |
|
