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.
|
|
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
|
|
|
Showing 4911 to 4915 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
|
| |
| |
|
