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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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Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
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- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
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