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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, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Economic Council, Georgia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- The University of Queensland
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
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