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.
|
|
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
|
|
|
Showing 5911 to 5915 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
|
| |
| |
|
