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, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
|
|
|
Showing 6536 to 6540 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- VISA Power Limited - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- The University of Queensland
- Australian Coal Association
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
|
| |
| |
|
