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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
|
|
|
Showing 6641 to 6645 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
|
| |
| |
|
