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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
|
|
|
Showing 5746 to 5750 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- White Energy Company Limited
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
|
| |
| |
|
