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.
|
|
Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
|
|
|
Showing 5901 to 5905 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
|
| |
| |
|
