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, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
Monday, 25 May 09
MMTC TO IMPORT 12.5 MN TN COAL FOR NTPC
India's State-run trading firm MMTC Ltd will import 12.5 million tonnes of coal this fiscal for the country’s largest power producer, NTPC. M ...
|
|
|
Showing 6731 to 6735 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Eastern Coal Council - USA
- Minerals Council of Australia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
|
| |
| |
|
