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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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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
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Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
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The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
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The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
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- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
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- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
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- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
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- Goldman Sachs - Singapore
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- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
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- Minerals Council of Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Ministry of Transport, Egypt
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
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- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
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- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
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- Eastern Energy - Thailand
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