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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
|
|
|
Showing 6386 to 6390 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
|
| |
| |
|
