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