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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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Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
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- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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