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, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
|
|
|
Showing 5406 to 5410 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
|
| |
| |
|
