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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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Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Planning Commission, India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
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