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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, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
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