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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
|
|
|
Showing 5501 to 5505 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
|
| |
| |
|
