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