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