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.
|
|
Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
|
|
|
Showing 5991 to 5995 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
|
| |
| |
|
