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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
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Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
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Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 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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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Planning Commission, India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
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