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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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Thursday, 01 August 13
CAPESIZE: THE FLOW OF CARGOES REMAINS RELATIVELY STABLE, AND THE PACIFIC IS LOOKING PROMISING - FEARNLEYS AS
Handy
The Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a fe ...
Wednesday, 31 July 13
COAL GASIFICATION
IBC’s Coal Gasification conference explores the opportunities for coal gasification investment and development in Asia.
With depleting dome ...
Wednesday, 31 July 13
SUPRAMAX : THE PACIFIC BASIN WAS MOVING ON A POSITIVE PATH - EVA TZIMA
COALspot.com: Cape - Despite holding their ground fairly well early on in the week, Capes in the Atlantic basin gave in to the mounting pressure fro ...
Tuesday, 30 July 13
HARD COAL ON THE WAY TO BECOMING THE WORLD'S MOST IMPORTANT ENERGY SOURCE - VDKI
Press Release : Hard coal continued to be the world’s fastest-growing fossil primary energy source in 2012. It covered about 28% of the world ...
Tuesday, 30 July 13
WIJAYA TRI UTAMA PURCHASES MICROCOAL TECHNOLOGIES' CLEAN COAL UPGRADING FACILITY
- First MCI commercial scale application of proprietary microwave technology to upgrade coal thermal output and reduce pollutants
- MicroCoal to re ...
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- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Planning Commission, India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
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