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