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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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- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Planning Commission, India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
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