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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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Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
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