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