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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
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Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
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Friday, 25 April 14
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Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
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Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
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- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
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