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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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- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
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- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
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- Commonwealth Bank - Australia
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- Orica Mining Services - Indonesia
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- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
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- Directorate General of MIneral and Coal - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
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- Bayan Resources Tbk. - Indonesia
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- Price Waterhouse Coopers - Russia
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- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
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- Essar Steel Hazira Ltd - India
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- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
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- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
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