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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
Tuesday, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
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Showing 1926 to 1930 news of total 6871 |
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- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
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