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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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Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
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