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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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Monday, 13 July 15
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Friday, 10 July 15
U.S PRODUCED APPROXIMATELY TOTALED AN ESTIMATED 14.1 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 14.1 million short ...
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- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
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