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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, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
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- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
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