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 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- The University of Queensland
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- White Energy Company Limited
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
|
| |
| |
|
