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