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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
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Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
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Friday, 25 April 14
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Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
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- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
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