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Geo Energy Resources Ltd's subsidiares enters into mining services contract and coal mining cooperation agreement

Thursday, 24 Jul 2014 05:24am EDT

Geo Energy Resources Ltd:The Company’s subsidiary, PT Mitra Nasional Pratama (MNP), enters into mining services contract with CV. Mandiri Makmur Citra Tambang (MMCT).On the same day, the Company’s subsidiary, PT Geo Mineral Trading (GMT) enters into coal mining cooperation agreement with MMCT.MMCT holds mining license for coal mineral area of 190.7 hectares located in Subdistrict Satui, Tanah Bumbu Regency, South Kalimantan Province (Concession Area).Pursuant to Mining Services Contract, MNP shall be exclusively appointed to provide mining services, comprising overburden removal, including land clearing and dewatering, in the Concession Area.MNP shall receive service fee of $2.50 per bank cubic metre for overburden removal, including land clearing and dewatering.Additional fees shall be chargeable by MNP for services beyond the specified scope of work.Appointment of MNP under Mining Services Contract shall be effective from date.Pursuant to Mining Cooperation Agreement, MMCT and GMT have agreed to cooperate exclusively with each other to produce coal in Concession Area.MMCT has agreed to sell and deliver coal produced from Concession Area, exclusively to GM.MMCT guaranteed that potential coal contained in Concession Area is about 1,900,000 metric tonnes of coal with calorific value in excess of 4,100kcal/kg (GAR).

Aspire Mining Ltd announces non binding MOU to supply coal to Zavkhan Power Station

Tuesday, 22 Jul 2014 05:00pm EDT

Aspire Mining Ltd:Says that it has entered into a non binding Memorandum of Understanding with New Asia Group LLC, the owner of the Zavkhan Power Station, to potentially supply oxidized coal from the Ovoot Coking Coal Project.The MOU covers a possible commitment of New Asia Group LLC to purchase up to 250,000 tonnes per year of oxidized coal as well as cooperation with Aspire to develop necessary transmission infrastructure connecting the Ovoot Project directly with the Zavkhan Power Station.The MOU also covers the supply of 35 megawatts of power per year to the Ovoot Project.

Ncondezi Energy announces Ncondezi power project update

Thursday, 10 Jul 2014 02:00am EDT

Ncondezi Energy:Entered final stages of negotiations on Power Purchase Agreement (PPA) and Power Concession Agreement (PCA).For its 300MW power plant project located near Tete in northern Mozambique.Formal submission of final PPA and PCA expected by mid-Aug. 2014.

PT Petrosea Tbk secures mining contract-The Jakarta Post

Sunday, 29 Jun 2014 08:00pm EDT

PT Petrosea Tbk:Secures a seven-year mining contract with PT Indonesia Pratama, a subsidiary of PT Bayan Resources (Bayan)-The Jakarta Post.Contract includes overburden mining, heavy equipment leasing and 65.5 mln tons of coal transporting from pit to crushing facility at Bayan's mining site in Tabang, East Kalimantan, according to

Sherritt International Corporation announces extension of an oil production-sharing contract in its oil and gas business

Monday, 2 Jun 2014 07:51am EDT

Sherritt International Corporation:Says has executed an agreement with the Government of Cuba to amend an existing Production-Sharing Contract (PSC) in its oil and gas business for an additional ten-year extension to March 2028.Says it is also awaiting final approval by Cuban ministries with respect to four new exploratory PSCs.Amended agreement provides for the extension of the Puerto Escondido/Yumuri PSC in Cuba to allow for further development drilling in those fields.During the new ten-year term, Sherritt will be obligated to drill a minimum of seven additional wells within an initial two year period following the effective date.Says extension applies to all new wells drilled following the amendment of the PSC.PSC will terminate with respect to existing wells as of its original expiry date in March 2018.

PT Darma Henwa Tbk gets $141 mln project deal-Investor Daily

Tuesday, 22 Apr 2014 08:00pm EDT

PT Darma Henwa Tbk:Secures a $141 mln engineering, procurement and construction project from PT Dairi Prima Mineral, a unit of PT Bumi Resources Mineral-Investor Daily.Says project is to develop mining facilities in North Sumatra.

SI Resources signs contract with Samsung C&T

Wednesday, 16 Apr 2014 02:32am EDT

SI Resources Co Ltd:Signs contract with Samsung C&T Corporation, to supply coal.Contract amount of 12,241,791,000 won.

Aspire Mining Ltd signs MOU with Sainshand Industrial Park

Wednesday, 9 Apr 2014 01:00am EDT

Aspire Mining Ltd:Announced that its Mongolian subsidiary has signed a non-binding Memorandum of Understanding with Sainshand Industrial Complex SOE.Relating to the future potential supply of coking coal produced at the Company’s wholly owned northern Mongolian Ovoot Coking Coal Project.


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