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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
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