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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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Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct) mainly due to drop in the Panamax index by almost 10 pct.
Th ...
Saturday, 27 April 13
HANDY : SLIDING ; PANAMAX : POSITIVE ; CAPESIZE : STILL ON ITS KNEES - FEARNRESEARCH
Handy
The Atlantic markets started sliding with no fresh cargoes seen in the market. The USG-Feast was at USD 18k and Black sea-Feast was at USD 11 ...
Saturday, 27 April 13
2ND CHINA INTERNATIONAL SHALE GAS SUMMIT
Press Release - 2nd China International Shale Gas Summit, 10-13 September 2013 | Chengdu, China
*The largest annual event for the shale gas indus ...
Friday, 26 April 13
LIMA SUMMIT IN JULY TO HIGHLIGHT LATIN AMERICAN MINING POTENTIAL
COALspot.com - Latin American mining industry officials and their private sector counterparts will be gathering in Lima, Peru on July 1-2 for the La ...
Wednesday, 24 April 13
FUTURE US POWER MARKET SHARES OF COAL, NATURAL GAS GENERATORS DEPEND ON RELATIVE FUEL PRICES - EIA
COALspot.com - In recent years, in US, natural gas competed more effectively with coal as a fuel for electricity generation as the cost of operating ...
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- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Central Electricity Authority - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
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