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.
|
|
Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
|
|
|
Showing 6651 to 6655 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
|
| |
| |
|
