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