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, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
|
|
|
Showing 4871 to 4875 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
|
| |
| |
|
