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.
|
|
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
|
|
|
Showing 5576 to 5580 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
|
| |
| |
|