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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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Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
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- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
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