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