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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, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
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- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
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