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.
|
|
Thursday, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
|
|
|
Showing 6046 to 6050 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- White Energy Company Limited
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- PTC India Limited - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
|
| |
| |
|
